Sec. 38. "Revolving first lien mortgage transaction" means a first lien mortgage transaction in which: (1) the creditor permits the debtor to obtain advances from time to time; (2) the unpaid balances of principal, finance charges, and other appropriate charges are debited to an account; and (3) the debtor has the privilege of paying the balances in installments. [Pre-2026 Revision Citation: 24-4.4-1-301(33).]
As added by P.L.115-2026, SEC.97.