§ 24-4.5-7-412 — Endorsement of check

Indiana § 24-4.5-7-412

• Jurisdiction: Indiana
• Art. 4.5: UNIFORM CONSUMER CREDIT CODE
• Ch. 7: Small Loans

Text

Upon the receipt of a check from a
borrower for a small loan, unless the check is marked as void at the
time of acceptance by the lender, the lender shall immediately stamp
the back of the check with an endorsement that states:
"This check is being negotiated as part of a small loan under IC 24-4.5, and any holder of this check takes it subject to the claims
and defenses of the maker.".

Legislative History

As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.32; P.L.35-2010, SEC.86.