§ 24-4.5-3-505.5 — Automated loan machines

Indiana § 24-4.5-3-505.5

• Jurisdiction: Indiana
• Art. 4.5: UNIFORM CONSUMER CREDIT CODE
• Ch. 3: Loans

Text

5. (a) As used in this section,
"automated loan machine" means an unmanned machine that performs
routine lending functions.
(b) A licensee may make loans through an automated loan machine
at an offsite location if the licensee:
(1) notifies the department in writing of the existence and location
of the automated loan machine;
(2) maintains at a location licensed or approved by the department
the books, accounts, records, and files concerning transactions
performed through the automated loan machine; and
(3) posts at the offsite location where the automated loan machine
is located the:
(A) address where the books, accounts, records and files are
located; and
(B) telephone number at which the licensee may be contacted.

Legislative History

As added by P.L.172-1997, SEC.6.