1. (a) As used in this chapter, "creditor" means a person:

   1. (1) that regularly engages in Indiana in the extension of mortgage loans 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 including a down payment); and
   2. (2) to whom the obligation arising from a mortgage loan is initially payable, either on the face of the note or contract, or by agreement if there is not a note or contract.

2. (b) The term does not include a person described in:

   1. (1) IC 37-5-2-6 (a)(2) if the person described in IC 37-5-2-6 -6(a)(2) is not the person extending the credit in the transaction; or
   2. (2) IC 37-5-2-6 (b).

As added by P.L.52-2009, SEC.2. Amended by P.L.115-2026, SEC.29.