Title 37, CONSUMER LENDING

Sec. 17. With respect to a consumer loan the agreement may provide for the payment by the debtor of reasonable attorney's fees after default and referral to an attorney not a salaried employee of the lender. A provision in violation of this section is unenforceable. [Pre-2026 Rev…

Sec. 18. Except for reasonable expenses incurred in realizing on a security interest, the agreement with respect to a consumer loan may not provide for charges as a result of default by the debtor other than those authorized by this article. A provision in violation of this secti…

Sec. 19. The debtor is authorized to pay the original lender until the debtor receives notification of assignment of rights to payment pursuant to a consumer loan and that payment is to be made to the assignee. A notification which does not reasonably identify the rights assigned…

Sec. 2. Unless a loan is made subject to this chapter by agreement under section 41 of this chapter, and except with respect to: (1) disclosure (section 14 of this chapter); (2) debtors' remedies (IC 37-2-6-8); (3) providing payoff amounts (section 12 of this chapter); (4) provid…

Sec. 20. A debtor may not authorize any person to confess judgment on a claim arising out of a consumer loan. An authorization in violation of this section is void. [Pre-2026 Revision Citation: 24-4.5-3-407.] As added by P.L.115-2026, SEC.97.

Sec. 21. (a) This section applies to consumer loans, including revolving loan accounts. (b) Except as provided in subsection (c), a creditor shall credit a payment to a consumer's account as of the date of receipt, except when a delay in crediting does not result in a finance cha…

Sec. 22. (a) If a person licensed or required to be licensed under section 24 of this chapter also engages in activities of a loan broker described in IC 23-2.5, the activities of a loan broker are subject to the following sections of the Indiana Code and any rules adopted to imp…

Sec. 23. (a) A person that is a: (1) depository institution; (2) subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or (3) credit union service organization; may engage in Indiana in the making of consumer loans (includi…

Sec. 24. (a) A person that is a: (1) depository institution; (2) subsidiary that is owned and controlled by a depository institution and regulated by a federal banking agency; or (3) credit union service organization; may engage in Indiana in the making of subordinate lien mortga…

Sec. 25. (a) Subject to subsection (f), the director may designate the NMLSR to serve as the sole entity responsible for: (1) processing applications and renewals for licenses required under section 23 of this chapter; (2) issuing unique identifiers for licensees and entities exe…

Sec. 26. (a) The department shall receive and act on all applications for licenses to make consumer loans. Applications must be as prescribed by the director of the department of financial institutions. If, at any time, the information or record contained in: (1) an application f…

Sec. 27. (a) When the director requests a national criminal history background check under section 26(d)(1) of this chapter for an individual described in section 26(b) of this chapter, the director shall require the individual to submit fingerprints to the department, state poli…

Sec. 28. (a) If the director requests a credit report for an individual described in section 26(b) of this chapter, the individual to whom the request is made shall pay any fees or costs associated with procuring the report. (b) The individual must submit personal history and exp…

Sec. 29. (a) Each: (1) creditor licensed by the department to engage in mortgage transactions; and (2) person that is exempt (either under this article or under IC 37-1-1-6(8)) from licensing and that: (A) employs a licensed mortgage loan originator; or (B) sponsors a licensed mo…

Sec. 3. A loan, refinancing, or consolidation is considered precomputed if the debt is expressed as a sum comprising the principal and the amount of the loan finance charge computed in advance. [Pre-2026 Revision Citation: 24-4.5-3-107(2).] As added by P.L.115-2026, SEC.97.

Sec. 30. (a) Subject to subsection (g), the director shall designate the NMLSR to serve as the sole entity responsible for: (1) processing applications and renewals for licenses under section 24 of this chapter; (2) issuing unique identifiers for licensees under section 24 of thi…

Sec. 31. (a) A license issued under this article must be renewed not later than December 31 of each calendar year. A license issued under section 24 of this chapter must be renewed through the NMLSR. The minimum standards for license renewal for a creditor include the following: …

Sec. 32. (a) The department may issue to a person licensed to: (1) make consumer loans; or (2) engage in consumer credit sales that are mortgage transactions; an order to show cause why the license should not be revoked or suspended for a period determined by the department. (b) …

Sec. 33. (a) Every creditor required to be licensed under this article shall maintain records in conformity with United States generally accepted accounting principles and practices, or in any other form that may be preapproved at the discretion of the director, in a manner that …

Sec. 34. (a) As used in this section, "automated loan machine" means an unmanned machine that performs routine lending functions. (b) A licensee may make loans through an automated loan machine at an offsite location if the licensee: (1) notifies the department in writing of the …

Sec. 35. (a) With respect to a supervised loan, including a loan pursuant to a revolving loan account, a supervised lender may contract for and receive a loan finance charge not exceeding that permitted by this section. (b) The loan finance charge, calculated according to the act…

Sec. 36. With respect to a consumer loan, no lender may permit any person, or husband and wife, to become obligated in any way under more than one loan agreement with the lender or with a person related to the lender, with intent to obtain a higher rate of loan finance charge tha…

Sec. 37. (a) With respect to a supervised loan in which the principal is four thousand dollars ($4,000) or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void. (b) The amount of four thousand dollars …

Sec. 38. (a) Supervised loans not made pursuant to a revolving loan account and in which the principal is four thousand dollars ($4,000) or less are payable in a single installment or shall be scheduled to be payable in substantially equal installments that are payable at equal p…

Sec. 39. A licensee may carry on other business at a location where the licensee makes consumer loans unless the licensee carries on other business for the purpose of evasion or violation of this article. [Pre-2026 Revision Citation: 24-4.5-3-512.] As added by P.L.115-2026, SEC.9…

Sec. 4. (a) This section does not apply to a supervised loan. Except as provided in subsections (f) and (i), with respect to a consumer loan, a lender may contract for a loan finance charge, calculated according to the actuarial method, not exceeding twenty-five percent (25%) per…

Sec. 40. (a) As used in this section, "control" means possession of the power directly or indirectly to: (1) direct or cause the direction of the management or policies of a creditor, whether through the beneficial ownership of voting securities, by contract, or otherwise; or (2)…

Sec. 41. The parties to a loan other than a consumer loan may agree in writing signed by the parties that the loan is subject to the provisions of this article applying to consumer loans. If the parties so agree, the loan is a consumer loan for the purposes of this article. [Pre-…

Sec. 42. (a) With respect to a consumer related loan, including one made pursuant to a revolving loan account, the parties may contract for the payment by the debtor of a loan finance charge, calculated according to the actuarial method, not to exceed twenty-five percent (25%) pe…

Sec. 43. (a) The agreement with respect to a consumer related loan may provide for only the following charges as a result of the debtor's default: (1) reasonable attorney's fees and reasonable expenses incurred in realizing on a security interest; (2) deferral charges not in exce…

Sec. 44. With respect to a loan other than a consumer loan or a consumer related loan, the parties may contract for the payment by the debtor of any loan finance charge. [Pre-2026 Revision Citation: 24-4.5-3-605.] As added by P.L.115-2026, SEC.97.

Sec. 45. (a) In addition to any disclosures otherwise provided by law, a lender soliciting loans using a negotiable check, facsimile, or other negotiable instrument that may be used by a consumer to activate a new loan shall disclose the following: "This is a solicitation for a l…

Sec. 46. With respect to a consumer loan secured by an interest in land used or expected to be used as the principal dwelling of the debtor, a lender shall comply with IC 6-1.1-12-43. [Pre-2026 Revision Citation: 24-4.5-3-701.] As added by P.L.115-2026, SEC.97.

Sec. 5. (a) In addition to the loan finance charge permitted by this chapter, a lender may contract for and receive the following additional charges in connection with a consumer loan: (1) Official fees and taxes. (2) Charges for insurance as described in subsection (b). (3) Annu…

Sec. 6. (a) With respect to a consumer loan, refinancing, or consolidation, the parties may contract for a delinquency charge of not more than the following: (1) Five dollars ($5) on any installment or minimum payment due that is not paid in full not later than ten (10) days afte…

Sec. 7. (a) This section applies only to a consumer loan, refinancing, or consolidation, that is entered into before July 1, 2020. With respect to a precomputed consumer loan, refinancing, or consolidation, the parties before or after default may agree in writing to a deferral of…

Sec. 8. With respect to a consumer loan, refinancing, or consolidation, the lender may by agreement with the debtor refinance the unpaid balance and may contract for and receive a loan finance charge based on the principal resulting from the refinancing at a rate not exceeding th…

Sec. 9. (a) If a debtor owes an unpaid balance to a lender with respect to a consumer loan, refinancing, or consolidation, and becomes obligated on another consumer loan, refinancing, or consolidation with the same lender, the parties may agree to a consolidation resulting in a s…

Sec. 1. For purposes of this chapter, there is a rebuttable presumption that: (1) a homeowner has a reasonable ability to pay for a subsequent reconveyance of real property if the homeowner's payments for primary housing expenses and regular principal and interest payments on oth…

Sec. 2. In addition to any prohibitions that apply under IC 24-5-15-1 through IC 24-5-15-8, a foreclosure consultant may not: (1) enter into or attempt to enter into a foreclosure consultant contract with a homeowner unless the foreclosure consultant first provides the homeowner …

Sec. 3. A foreclosure purchaser may not enter into or attempt to enter into a foreclosure reconveyance agreement with a homeowner unless the: (1) foreclosure purchaser verifies and demonstrates that the homeowner has or will have a reasonable ability to: (A) pay for the subsequen…

Sec. 4. A foreclosure purchaser shall: (1) ensure that title to real property has been reconveyed to the homeowner in a timely manner if the terms of a foreclosure reconveyance agreement require a reconveyance; or (2) if the real property subject to a foreclosure reconveyance agr…

Sec. 5. A foreclosure purchaser may not: (1) enter into repurchase or lease terms as part of the foreclosure reconveyance that are unfair or commercially unreasonable or engage in any other unfair conduct; (2) represent, directly or indirectly, that the: (A) foreclosure purchaser…

Sec. 6. A foreclosure purchaser shall make a detailed accounting of the basis for the amount of payment made to a homeowner of real property resold within eighteen (18) months after entering into a foreclosure reconveyance agreement on a form prescribed by the attorney general. […

Sec. 7. A foreclosure consultant shall retain all records and documents, including the foreclosure consultant contract, related to services performed on behalf of a homeowner for at least three (3) years after the termination or conclusion of the foreclosure consultant contract e…

Sec. 8. A foreclosure consultant may not represent to a homeowner that the foreclosure consultant is endorsed, sponsored, or affiliated with any governmental or government sponsored agency or program. [Pre-2026 Revision Citation: 24-5.5-5-8.] As added by P.L.115-2026, SEC.97.