Indiana § 24-4.5-3-106 "Loan"

Indiana Statutes

§ 24-4.5-3-106 — "Loan"

Indiana·Art. 4.5 UNIFORM CONSUMER CREDIT CODE·Ch. 3 Loans

Definition: "Loan" — "Loan" includes

(1)the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;

(2)the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;

(3)the creation of debt pursuant to a lender credit card or similar arrangement; and

(4)the forbearance of debt arising from a loan. Formerly: Acts 1971, P.L.366, SEC.4.

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Definition: "Loan" — "Loan" includes
(1) the creation of debt by the lender's payment of or agreement to
pay money to the debtor or to a third party for the account of the
debtor;
(2) the creation of debt by a credit to an account with the lender
upon which the debtor is entitled to draw immediately;
(3) the creation of debt pursuant to a lender credit card or similar
arrangement; and
(4) the forbearance of debt arising from a loan.
Formerly: Acts 1971, P.L.366, SEC.4.

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