"Skip-a-payment service"

Sec. 46.7. "Skip-a-payment service" means a service that: (1) in the case of a consumer credit sale: (A) is offered by a creditor to a consumer; and (B) permits the consumer to miss or skip a payment due under a consumer credit sale without resulting in default; and (2) in the case of a consumer loan: (A) is offered by a lender to a consumer; and (B) permits the consumer to miss or skip a payment due under a consumer loan without resulting in default. [Pre-2026 Revision Citation: 24-4.5-3-202(7).] As added by P.L.115-2026, SEC.97.