Indiana § 24-9-4-9 Payments to home improvement contractors

Indiana Statutes

§ 24-9-4-9 — Payments to home improvement contractors

Indiana § 24-9-4-9

Art. 9HOME LOAN PRACTICES

Ch. 4Additional Prohibitions for High Cost Home Loans

This text of Indiana § 24-9-4-9 (Payments to home improvement contractors) 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 § 24-9-4-9 (2026).

Text

A creditor may not pay a contractor under a home improvement contract from the proceeds of a high cost home loan unless:

(1)the creditor is presented with a signed and dated completion certificate showing that the home improvements have been completed; and

(2)the instrument is payable to the borrower or jointly to the borrower and the contractor or, at the election of the borrower, through a third party escrow agent under a written agreement signed by the borrower, the creditor, and the contractor before the disbursement.

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A creditor may not pay a contractor under a
home improvement contract from the proceeds of a high cost home
loan unless:
(1) the creditor is presented with a signed and dated completion
certificate showing that the home improvements have been
completed; and
(2) the instrument is payable to the borrower or jointly to the
borrower and the contractor or, at the election of the borrower,
through a third party escrow agent under a written agreement
signed by the borrower, the creditor, and the contractor before the
disbursement.