"Adjustable mortgage loan"

Sec. 1. As used in this chapter, "adjustable mortgage loan" means a loan: (1) whose terms permit adjustments to the interest rate that: (A) reflect the movement of the money cost index; and (B) are implemented through changes in the monthly payment amounts, adjustments to the outstanding principal loan balance, or changes in the loan term; and (2) whose term does not exceed forty (40) years. As added by P.L.193-1997, SEC.2.