Indiana § 24-4.5-2-402 Use of multiple agreements

Indiana Statutes

§ 24-4.5-2-402 — Use of multiple agreements

Indiana·Art. 4.5 UNIFORM CONSUMER CREDIT CODE·Ch. 2 Credit Sales

Use of Multiple Agreements — A seller
may not use multiple agreements with intent to obtain a higher credit
service charge than would otherwise be permitted by this Article or to
avoid disclosure of an annual percentage rate pursuant to the provisions
on disclosure and advertising (Part 3). The excess amount of credit
service charge provided for in agreements in violation of this section
is an excess charge for the purposes of the provisions on the effect of
violations on rights of parties (IC 24-4.5-5-202) and the provisions on
civil actions by the department (IC 24-4.5-6-113).
Formerly: Acts 1971, P.L.366, SEC.3. As amended by
P.L.14-1992, SEC.19.

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Use of Multiple Agreements — A seller
may not use multiple agreements with intent to obtain a higher credit
service charge than would otherwise be permitted by this Article or to
avoid disclosure of an annual percentage rate pursuant to the provisions
on disclosure and advertising (Part 3). The excess amount of credit
service charge provided for in agreements in violation of this section
is an excess charge for the purposes of the provisions on the effect of
violations on rights of parties (IC 24-4.5-5-202) and the provisions on
civil actions by the department (IC 24-4.5-6-113).
Formerly: Acts 1971, P.L.366, SEC.3. As amended by
P.L.14-1992, SEC.19.

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