There Is a Newer Version
of
this Section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
24-4.5-3-510. Restrictions on interest in land as security
Universal Citation:
IN Code § 24-4.5-3-510 (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 24-4.5-3-510 Restrictions on interest in land as security
Sec. 510. Restrictions on Interest in Land as Security — (1) With respect to a supervised loan in which the principal is four thousand dollars ($4,000) or less, a lender may not contract for an interest in land as security. A security interest taken in violation of this section is void.
(2) The amount of four thousand dollars ($4,000) in subsection (1) is subject to change pursuant to the provisions on adjustment of dollar amounts (IC 24-4.5-1-106). However, notwithstanding IC 24-4.5-1-106(1), the Reference Base Index to be used under this subsection is the Index for October 2012.
Formerly: Acts 1971, P.L.366, SEC.4. As amended by P.L.137-2014, SEC.11; P.L.186-2015, SEC.19.
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.
