Loan finance charge; licensing and annual notice to department not required
Ind. Code § 37-2-4-42
in effectSec. 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%) per year on the unpaid principal balance.
(b) A person engaged in consumer related loans is not required to comply with:
(1) the licensing requirements set forth in section 26 of this chapter; or
(2) IC 37-2-7-24 through IC 37-2-7-26.
[Pre-2026 Revision Citations: 24-4.5-3-602(2); 24-4.5-3-602(3).]
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