There Is a Newer Version
of
this Section
2017 Indiana Code
TITLE 24. Trade Regulation
ARTICLE 4.5. UNIFORM CONSUMER CREDIT CODE
CHAPTER 3. Loans
24-4.5-3-403. No assignment of earnings
Universal Citation:
IN Code § 24-4.5-3-403 (2017)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
IC 24-4.5-3-403 No assignment of earnings
Sec. 403. No Assignment of Earnings — (1) A lender may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a consumer loan or otherwise. An assignment of earnings in violation of this section is unenforceable by the assignee of the earnings and revocable by the debtor. This section does not prohibit an employee from authorizing deductions from his earnings if the authorization is revocable and is otherwise permitted by law.
(2) A sale of unpaid earnings made in consideration of the payment of money to or for the account of the seller of the earnings is deemed to be a loan to him secured by an assignment of earnings.
Formerly: Acts 1971, P.L.366, SEC.4.
Disclaimer: These codes may not be the most recent version. Indiana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
