Indiana § 24-9-4-12 High cost home loan agreements; unconscionable and void provisions

Indiana Statutes

§ 24-9-4-12 — High cost home loan agreements; unconscionable and void provisions

Indiana·Art. 9 HOME LOAN PRACTICES·Ch. 4 Additional Prohibitions for High Cost Home Loans

Without regard to whether a borrower is acting individually or on behalf of others similarly situated, a provision of a high cost home loan agreement that:

(1)requires arbitration of a claim or defense;

(2)allows a party to require a borrower to assert a claim or defense in a forum that is:

(A)less convenient;

(B)more costly; or

(C)more dilatory; for the resolution of the dispute than an Indiana court in which the borrower may otherwise bring a claim or defense; or

(3)limits in any way any claim or defense the borrower may have; is unconscionable and void.

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Without regard to whether a borrower is
acting individually or on behalf of others similarly situated, a provision
of a high cost home loan agreement that:
(1) requires arbitration of a claim or defense;
(2) allows a party to require a borrower to assert a claim or
defense in a forum that is:
(A) less convenient;
(B) more costly; or
(C) more dilatory;
for the resolution of the dispute than an Indiana court in which the
borrower may otherwise bring a claim or defense; or
(3) limits in any way any claim or defense the borrower may have;
is unconscionable and void.

Indiana § 24-9-4-12 (High cost home loan agreements; unconscionable and void provisions) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.