Sec. 45. "Revolving loan account" means an arrangement between a lender and a debtor pursuant to which: (1) the lender may permit the debtor to obtain loans from time to time; (2) the unpaid balances of principal and the loan finance and other appropriate charges are debited to an account; (3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and (4) the debtor has the privilege of paying the balances in installments.
[Pre-2026 Revision Citation: 24-4.5-3-108.] As added by P.L.115-2026, SEC.97.