Indiana § 24-4.5-7-202 Fee for dishonored check, electronic funds transfer, or debit
authorization; limits on lender's presentment of check or debiting of
account

Indiana Statutes

§ 24-4.5-7-202 — Fee for dishonored check, electronic funds transfer, or debit authorization; limits on lender's presentment of check or debiting of account

Indiana § 24-4.5-7-202

Art. 4.5UNIFORM CONSUMER CREDIT CODE

Ch. 7Small Loans

This text of Indiana § 24-4.5-7-202 (Fee for dishonored check, electronic funds transfer, or debit authorization; limits on lender's presentment of check or debiting of account) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 24-4.5-7-202 (2026).

Text

(1)Notwithstanding any other law, the only fee that may be contracted for and received by the lender or an assignee on a small loan is a charge, not to exceed twenty-five dollars ($25), for each:

(a)return by a bank or other depository institution of a dishonored:

(i)check;

(ii)electronic funds transfer;

(iii)negotiable order of withdrawal; or

(iv)share draft; issued by the borrower; or

(b)time an authorization to debit the borrower's account is dishonored. This additional charge may be assessed one (1) time regardless of how many times a check or an authorization to debit the borrower's account may be submitted by the lender and dishonored.

(2)A lender may:

(a)present a borrower's check for payment; or

(b)exercise a borrower's authorization to debit the borrower's account; not m

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(1) Notwithstanding any other law, the
only fee that may be contracted for and received by the lender or an
assignee on a small loan is a charge, not to exceed twenty-five dollars
($25), for each:
(a) return by a bank or other depository institution of a
dishonored:
(i) check;
(ii) electronic funds transfer;
(iii) negotiable order of withdrawal; or
(iv) share draft;
issued by the borrower; or
(b) time an authorization to debit the borrower's account is
dishonored.
This additional charge may be assessed one (1) time regardless of how
many times a check or an authorization to debit the borrower's account
may be submitted by the lender and dishonored.
(2) A lender may:
(a) present a borrower's check for payment; or
(b) exercise a borrower's authorization to debit the borrower's
account;
not more than three (3) times.

Legislative History

As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.24; P.L.213-2007, SEC.24; P.L.217-2007, SEC.23; P.L.90-2008, SEC.14; P.L.60-2016, SEC.4; P.L.69-2018, SEC.26.