Ind. Code § 37-2-4-43
Limitation on default charges in consumer related loans
As added by P.L.115-2026, SEC.97.
(a) The agreement with respect to a consumer related loan may provide for only the following charges as a result of the debtor's default:
- (1) reasonable attorney's fees and reasonable expenses incurred in realizing on a security interest;
- (2) deferral charges not in excess of twenty-five percent (25%) per year of the amount deferred for the period of deferral; and
- (3) other charges that could have been made had the loan been a consumer loan.
(b) A provision in violation of this section is unenforceable.
[Pre-2026 Revision Citation: 24-4.5-3-604.]
As added by P.L.115-2026, SEC.97.