Application of chapter
Sec. 3. (a) This chapter applies only:
(1) to consumer loans, consumer related loans, consumer credit
sales, consumer related sales, and consumer leases, as those
terms are defined in IC 24-4.5, subject to adjustment, where
applicable, of the dollar amounts set forth in those definitions
under IC 24-4.5-1-106;
(2) to any loan primarily secured by an interest in land or sale
of an interest in land that is a mortgage transaction (as defined
in IC 24-4.5-1-301) if the transaction is otherwise a consumer
loan or consumer credit sale; and
(3) to any other loan transaction or extension of credit,
regardless of the amount of the principal of the loan or
extension of credit, if unlawful force or the threat of force is
used to collect or to attempt to collect any of the property
loaned or any of the consideration for the loan or extension of
credit in question.
(b) This chapter applies regardless of whether the contract is made
directly or indirectly, and whether the receipt of the consideration is
received or is due to be received before or after the maturity date of
the loan.
As added by Acts 1980, P.L.207, SEC.1. Amended by P.L.247-1983,
SEC.25; P.L.14-1992, SEC.164; P.L.122-1994, SEC.121.
Last modified: May 24, 2006