§ 24-5-15-5 — Deceptive acts

The following are deceptive acts:
(1) To charge or receive money or other valuable consideration
before the complete performance of services that a credit services
organization has agreed to perform for or on behalf of a
consumer, unless the credit services organization has under
section 8 of this chapter:
(A) obtained a surety bond issued by a surety company
admitted to do business in Indiana; or
(B) established an irrevocable letter of credit.
(2) To charge or receive money or other valuable consideration to
refer a buyer to a retail seller that will or may extend credit to the
buyer if the extension of credit is made upon substantially the
same terms as those available to the general public.
(3) To make or to advise a buyer to make a statement with respect
to the buyer's creditworthiness, credit standing, or credit capacity
that is:
(A) false or misleading; or
(B) that should be known by the exercise of reasonable care to
be false or misleading;
to a consumer reporting agency or to a person that has extended
credit to the buyer or to whom the buyer is applying for an
extension of credit.
(4) To make or use a false or misleading representation in an offer
to sell or a sale of the services of a credit services organization,
including:
(A) guaranteeing to "erase bad credit" or using words to that
effect unless the representation clearly discloses that this can be
done only if a person's credit history is inaccurate or obsolete;
(B) guaranteeing an extension of credit regardless of the buyer's
previous credit history unless the representation clearly
discloses the eligibility requirements for obtaining the
extension of credit; or
(C) requiring a buyer to waive a right protected by a state or
federal law.
(5) To take a power of attorney from a buyer for any purpose
other than inspecting documents as provided by law.

Legislative History

As added by P.L.142-1990, SEC.1. Amended by P.L.171-2006, SEC.3.