"Skip-a-payment service" means a service that:

1. (1) in the case of a consumer credit sale:

   1. (A) is offered by a creditor to a consumer; and
   2. (B) permits the consumer to miss or skip a payment due under a consumer credit sale without resulting in default; and

2. (2) in the case of a consumer loan:

   1. (A) is offered by a lender to a consumer; and

   2. (B) permits the consumer to miss or skip a payment due under a consumer loan without resulting in default.

      [Pre-2026 Revision Citation: 24-4.5-3-202(7).]

As added by P.L.115-2026, SEC.97.