Charge for insurance connection with a deferral, refinancing, or consolidation; duplicate charges
Ind. Code § 37-2-5-8
in effectSec. 8. (a) A creditor may not contract for or receive a separate charge for insurance in connection with a deferral (IC 37-2-3-7 or IC 37-2-4-7), a refinancing (IC 37-2-3-8 or IC 37-2-4-8), or a consolidation (IC 37-2-3-9 or IC 37-2-4-9), unless:
(1) the debtor agrees at or before the time of the deferral, refinancing, or consolidation that the charge may be made;
(2) the debtor is or is to be provided with insurance for an amount or a term, or insurance of a kind, in addition to that to which the debtor would have been entitled had there been no deferral, refinancing, or consolidation;
(3) the debtor receives a refund or credit on account of any unexpired term of existing insurance in the amount that would be required if the insurance were terminated under section 6 of this chapter; and
(4) the charge does not exceed the amount permitted by section 5 of this chapter.
(b) A creditor may not contract for or receive a separate charge for insurance which duplicates insurance with respect to which the creditor has previously contracted for or received a separate charge.
[Pre-2026 Revision Citation: 24-4.5-4-110.]
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