Title 37, CONSUMER LENDING

Sec. 1. Notwithstanding any other provision of this article or IC 37-2, the department may adopt rules under IC 4-22-2, to remain effective until codified in the Indiana Code, in order to provide for a system of licensing creditors and mortgage loan originators that meets the req…

Sec. 2. (a) This article shall be liberally construed and applied to promote the following purposes and policies: (1) To permit and encourage the development of fair and economically sound first lien mortgage lending practices. (2) To conform the regulation of first lien mortgage…

Sec. 3. This article is a general statute intended as a unified coverage of its subject matter. No part of this article may be considered to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. [Pre-2026 Revision Citation: 24-4.4-1-103.]…

Sec. 4. The provisions of this article are severable, so that if: (1) any provisions of this article; or (2) the application of this article to any person or circumstances; is held invalid, the invalidity does not affect other provisions or applications of this article that can b…

Sec. 5. (a) Except as provided in subsection (b), this article applies to a first lien mortgage transaction: (1) that is secured by an interest in: (A) a dwelling; or (B) residential real estate upon which a dwelling is constructed or intended to be constructed; in Indiana; and (…

Sec. 6. This article does not apply to the following: (1) Extensions of credit to government or governmental agencies or instrumentalities. (2) A first lien mortgage transaction in which the debt is incurred primarily for a purpose other than a personal, family, or household purp…

Sec. 7. (a) If a person licensed or required to be licensed by the department to engage in mortgage transactions 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 r…

Sec. 8. In the department's examination and regulatory activities related to licensees under this article, the department may cooperate with the Indiana securities commissioner in the regulation of entities that, in addition to conducting business regulated under this article, al…

Sec. 9. A licensee may carry on other business at a location where the licensee engages in first lien mortgage transactions unless the licensee carries on other business for the purpose of evasion or violation of this article. [Pre-2026 Revision Citation: 24-4.4-1-205.] As added …

Sec. 0.1. This article must be construed as a recodification of prior law. The enactment of this article by SEA 169-2026 does not affect the substantive operation and effect of the prior law. As added by P.L.115-2026, SEC.97.

Sec. 0.3. A contract entered into in accordance with IC 24-4.5 (before its repeal) is considered a contract entered into in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.5. Any document, website, or business communication created in accordance with IC 24-4.5 (before its repeal) is considered a document, website, or business communication created in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.7. (a) A reference in a statute or rule to a statute that is repealed and replaced in the same or a different form in the recodification act of the 2026 regular session of the general assembly is treated after the effective date of the new provision as a reference to the n…

Sec. 1. (a) This article shall be liberally construed and applied to promote the following underlying purposes and policies of this article: (1) To simplify, clarify, and modernize the law governing retail installment sales, consumer credit, small loans, and usury. (2) To provide…

Sec. 10. This article does not apply to the following: (1) Extensions of credit to or by a government or governmental agencies or instrumentalities. (2) The sale of insurance by an insurer, except as otherwise provided in the chapter on insurance (IC 37-2-5). (3) Transactions und…

Sec. 11. In examinations or other regulatory activities conducted by the department and related to licensees under this article, the department may cooperate with the Indiana securities commissioner in the regulation of individuals who, in addition to conducting business regulate…

Sec. 2. Unless displaced by the particular provisions of this article, the Uniform Commercial Code (IC 26-1) and the principles of law and equity (including the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistak…

Sec. 3. This article is a general statute intended to provide unified coverage of its subject matter. Subsequent legislation may not be construed to repeal any part of the article by implication if the construction can reasonably be avoided. [Pre-2026 Revision Citation: 24-4.5-1-…

Sec. 4. The provisions of this article are severable, so that if: (1) any provisions of this article; or (2) the application of this article to any person or circumstances; is held invalid, the invalidity does not affect other provisions or applications of this article that can b…

Sec. 5. (a) The dollar amounts in this article designated as subject to change shall change, as provided in this section, according to the Consumer Price Index for Urban Wage Earners and Clerical Workers: U.S. City Average, All Items, 1957-59 equals 100, compiled by Bureau of Lab…

Sec. 6. (a) Except as otherwise provided in this article, a buyer, lessee, or debtor may not waive or agree to forego rights or benefits under this article. (b) A claim by a buyer, lessee, or debtor against a creditor for an excess charge, other violation of this article, or civi…

Sec. 7. (a) This article prescribes maximum charges for all creditors, except lessors and those excluded under section 10 of this chapter, extending consumer credit, including consumer credit sales, consumer loans, and consumer related sales and loans, and displaces existing limi…

Sec. 8. All persons licensed on October 1, 1971, under: (1) IC 24-5-4 (before its repeal on October 1, 1971); (2) IC 28-7-4 (before its repeal on October 1, 1971); (3) IC 28-7-2 (before its repeal on October 1, 1971); or (4) IC 28-5-1-4; are licensed to make supervised loans unde…

Sec. 9. (a) Except as otherwise provided in this section, this article applies to sales, leases, and loans made in this state and to modifications, including refinancings, consolidations, and deferrals, made in this state, of sales, leases, and loans, wherever made. For purposes …

Sec. 0.1. This article must be construed as a recodification of prior law. The enactment of this article by SEA 169-2026 does not affect the substantive operation and effect of the prior law. As added by P.L.115-2026, SEC.97.

Sec. 0.3. A contract entered into in accordance with IC 24-4.5-7 (before its repeal) is considered a contract entered into in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.5. Any document, website, or business communication created in accordance with IC 24-4.5-7 (before its repeal) is considered a document, website, or business communication created in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.7. (a) A reference in a statute or rule to a statute that is repealed and replaced in the same or a different form in the recodification act of the 2026 regular session of the general assembly is treated after the effective date of the new provision as a reference to the n…

Sec. 1. (a) Except as otherwise provided, all provisions of IC 37-2 applying to consumer loans, including IC 37-2-4-25, apply to small loans. (b) Subject to section 4 of this chapter, a person may not regularly engage in Indiana in any of the following actions unless the departme…

Sec. 2. This article applies to: (1) a lender; (2) a bank, savings association, credit union, or other state or federally regulated financial institution except those that are specifically exempt regarding limitations on interest rates and fees; or (3) a person, if the department…

Sec. 3. A loan that: (1) does not qualify as a small loan under IC 37-3-2-10; (2) is for a term shorter than that specified in IC 37-3-3-5(a); or (3) is made in violation of section IC 37-3-3-2, IC 37-3-3-5, IC 37-3-3-6, IC 37-3-3-8, or IC 37-3-3-12; is subject to this article. T…

Sec. 4. Notwithstanding IC 37-2-2, for purposes of section 1(b) of this chapter, a person "regularly engages" in any of the activities described in section 1(b) of this chapter with respect to a small loan if the person: (1) performed any of the activities described in section 1(…

Sec. 0.1. This article must be construed as a recodification of prior law. The enactment of this article by SEA 169-2026 does not affect the substantive operation and effect of the prior law. As added by P.L.115-2026, SEC.97.

Sec. 0.3. A contract entered into in accordance with IC 24-5.5 (before its repeal) is considered a contract entered into in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.5. Any document, website, or business communication created in accordance with IC 24-5.5 (before its repeal) is considered a document, website, or business communication created in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.7. (a) A reference in a statute or rule to a statute that is repealed and replaced in the same or a different form in the recodification act of the 2026 regular session of the general assembly is treated after the effective date of the new provision as a reference to the n…

Sec. 1. This article does not apply to the following: (1) A person organized or chartered under the laws of this state, any other state, or the United States that relate to a bank, a trust company, a savings association, a savings bank, a credit union, or an industrial loan and i…

Sec. 0.1. This article must be construed as a recodification of prior law. The enactment of this article by SEA 169-2026 does not affect the substantive operation and effect of the prior law. As added by P.L.115-2026, SEC.97.

Sec. 0.3. A contract entered into in accordance with IC 24-9 (before its repeal) is considered a contract entered into in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.5. Any document, website, or business communication created in accordance with IC 24-9 (before its repeal) is considered a document, website, or business communication created in accordance with this article. As added by P.L.115-2026, SEC.97.

Sec. 0.7. (a) A reference in a statute or rule to a statute that is repealed and replaced in the same or a different form in the recodification act of the 2026 regular session of the general assembly is treated after the effective date of the new provision as a reference to the n…

Sec. 1. Except for IC 37-5-3-7(c)(3), IC 37-5-3-7(c)(4), and IC 37-5-3-7(c)(5), this article does not apply to: (1) a loan made or acquired by a person organized or chartered under the laws of this state, any other state, or the United States relating to banks, trust companies, s…

Sec. 1. The definitions set forth in this chapter apply throughout this article. [Pre-2026 Revision Citation: 24-4.4-1-301.] As added by P.L.115-2026, SEC.97.

Sec. 10. "Credit" means the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment. [Pre-2026 Revision Citation: 24-4.4-1-301(6).] As added by P.L.115-2026, SEC.97.

Sec. 11. "Creditor" means a person: (1) that regularly engages in the extension of first lien mortgage transactions that are subject to a credit service charge or loan finance charge, as applicable, or are payable by written agreement in more than four (4) installments (not inclu…

Sec. 12. "Department" refers to the department of financial institutions. [Pre-2026 Revision Citation: 24-4.4-1-301(8).] As added by P.L.115-2026, SEC.97.