Financing of certain premiums, penalties, and fees prohibited

Sec. 1. (a) A creditor making a home loan may not finance, directly or indirectly, any: (1) credit life insurance; (2) credit disability insurance; (3) credit unemployment insurance; (4) credit property insurance; or (5) payments directly or indirectly for any cancellation suspension agreement or contract. (b) Insurance premiums, debt cancellation fees, or suspension fees calculated and paid on a monthly basis are not considered to be financed by the creditor for purposes of this chapter. [Pre-2026 Revision Citation: 24-9-3-1.] As added by P.L.115-2026, SEC.97.