Sec. 21. (a) "Loans arising in factoring" means: (1) a loan or extension of credit secured by one (1) or more accounts receivable; or (2) a sale of one (1) or more accounts receivable in which the purchaser has recourse against the seller for an uncollected accounts receivable. (b) The term does not refer to: (1) a sale of one (1) or more accounts receivable without recourse; or (2) an assignment of an account receivable. As added by P.L.146-2020, SEC.31.
"Loans arising in factoring"
Ind. Code § 6-5.5-1-21, under Chapter 1. Definitions.
Ind. Code § 6-5.5-1-21