Indiana § 24-9-3-1 Financing of certain premiums, penalties, and fees prohibited

Indiana Statutes

§ 24-9-3-1 — Financing of certain premiums, penalties, and fees prohibited

Indiana·Art. 9 HOME LOAN PRACTICES·Ch. 3 Prohibited Lending Practices Generally

(a)A creditor making a home loan may not finance, directly or indirectly, any:

(1)credit life insurance;

(2)credit disability insurance;

(3)credit unemployment insurance;

(4)credit property insurance; or

(5)payments directly or indirectly for any cancellation suspension agreement or contract.

(b)Insurance premiums, debt cancellation fees, or suspension fees calculated and paid on a monthly basis are not considered to be financed by the creditor for purposes of this chapter.

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(a) A creditor making a home loan may not
finance, directly or indirectly, any:
(1) credit life insurance;
(2) credit disability insurance;
(3) credit unemployment insurance;
(4) credit property insurance; or
(5) payments directly or indirectly for any cancellation suspension
agreement or contract.
(b) Insurance premiums, debt cancellation fees, or suspension fees
calculated and paid on a monthly basis are not considered to be
financed by the creditor for purposes of this chapter.

Indiana § 24-9-3-1 (Financing of certain premiums, penalties, and fees prohibited) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.