Indiana § 24-4.5-5-201 First lien mortgage transactions; civil liability for disclosure violations;
debtor's right to rescind

Indiana Statutes

§ 24-4.5-5-201 — First lien mortgage transactions; civil liability for disclosure violations; debtor's right to rescind

Indiana·Art. 4.5 UNIFORM CONSUMER CREDIT CODE·Ch. 5 Remedies and Penalties

For purposes of the provisions on civil liability for violation of disclosure provisions (IC 24-4.5-5-203) and on debtor's right to rescind certain transactions (IC 24-4.5-5-204):

(1)consumer credit sale includes a sale that is a first lien mortgage transaction if the sale is otherwise a consumer credit sale; and

(2)consumer loan includes a loan that is a first lien mortgage transaction if the loan is otherwise a consumer loan. Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts 1981, P.L.218, SEC.7; P.L.152-1986, SEC.69; P.L.35-2010, SEC.62.

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For purposes of the provisions on civil
liability for violation of disclosure provisions (IC 24-4.5-5-203) and on
debtor's right to rescind certain transactions (IC 24-4.5-5-204):
(1) consumer credit sale includes a sale that is a first lien
mortgage transaction if the sale is otherwise a consumer credit
sale; and
(2) consumer loan includes a loan that is a first lien mortgage
transaction if the loan is otherwise a consumer loan.
Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts
1981, P.L.218, SEC.7; P.L.152-1986, SEC.69; P.L.35-2010,
SEC.62.

Indiana § 24-4.5-5-201 (First lien mortgage transactions; civil liability for disclosure violations; debtor's right to rescind) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.