§ 24-4.5-3-606 — Required disclosures; liability on fraudulently cashed instruments

Indiana § 24-4.5-3-606

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

Text

(1) In addition to any disclosures
otherwise provided by law, a lender soliciting loans using a negotiable
check, facsimile, or other negotiable instrument that may be used by a
consumer to activate a new loan shall disclose the following:
"This is a solicitation for a loan. Read the enclosed disclosures
before signing this agreement."
This notice shall be printed in at least ten point type and shall appear
conspicuously on the offer.
(2) If a negotiable check, a facsimile, or another instrument is stolen
or incorrectly received by someone other than the intended payee and
the instrument is fraudulently cashed, the consumer who was the
intended payee is not liable for the loan obligation.

Legislative History

As added by P.L.163-1999, SEC.3. (Part 7. Property Tax Information)