"Average daily balance"

Ind. Code § 37-2-2-5
in effect
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Sec. 5. "Average daily balance" means the sum of each of the daily balances in a billing cycle divided by the number of days in the billing cycle, and if the billing cycle is a month, the creditor may elect to treat the number of days in each billing cycle as thirty (30). [Pre-2026 Revision Citation: 24-4.5-1-301.5(4).] As added by P.L.115-2026, SEC.97.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/37Fetched: 10/17/2026

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