Indiana § 24-4.5-2-108 "Revolving charge account"

Indiana Statutes

§ 24-4.5-2-108 — "Revolving charge account"

Indiana § 24-4.5-2-108

Art. 4.5UNIFORM CONSUMER CREDIT CODE

Ch. 2Credit Sales

This text of Indiana § 24-4.5-2-108 ("Revolving charge account") is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 24-4.5-2-108 (2026).

Text

Definition: "Revolving Charge Account" — "Revolving charge account" means an arrangement between a seller and a buyer pursuant to which:

(1)the seller may permit the buyer to purchase goods or services on credit either from the seller or pursuant to a seller credit card;

(2)the unpaid balances of amounts financed arising from purchases and the credit service and other appropriate charges are debited to an account;

(3)a credit service charge if made is not precomputed but is computed on the outstanding unpaid balances of the buyer's account from time to time; and

(4)the buyer has the privilege of paying the balances in installments. Formerly: Acts 1971, P.L.366, SEC.3. As amended by P.L.137-2021, SEC.4.

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Definition: "Revolving Charge Account"
— "Revolving charge account" means an arrangement between a seller
and a buyer pursuant to which:
(1) the seller may permit the buyer to purchase goods or services
on credit either from the seller or pursuant to a seller credit card;
(2) the unpaid balances of amounts financed arising from
purchases and the credit service and other appropriate charges are
debited to an account;
(3) a credit service charge if made is not precomputed but is
computed on the outstanding unpaid balances of the buyer's
account from time to time; and
(4) the buyer has the privilege of paying the balances in
installments.
Formerly: Acts 1971, P.L.366, SEC.3. As amended by
P.L.137-2021, SEC.4.