Indiana Statutes
§ 28-15-11-1 — "Adjustable mortgage loan"
As used in this chapter, "adjustable mortgage loan" means a loan:
(1)whose terms permit adjustments to the interest rate that:
(A)reflect the movement of the money cost index; and
(B)are implemented through changes in the monthly payment
amounts, adjustments to the outstanding principal loan balance,
or changes in the loan term; and
(2)whose term does not exceed forty (40) years.
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Indiana § 28-15-11-1 ("Adjustable mortgage loan") — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
As added by P.L.193-1997, SEC.2.
Nearby Sections
15
§ 28-1-1-1
Short title§ 28-1-1-2
Application of article§ 28-1-1-3
Definitions§ 28-1-1-3.5
Affiliate relationship§ 28-1-1-3.7
"Emancipated youth"§ 28-1-1-3.9
"Foster youth"§ 28-1-1-4
"Fund"§ 28-1-1-5
References to savings associations§ 28-1-1-6
"Depository financial institution"§ 28-1-1-7
"Qualified youth"§ 28-1-11-11
Safe deposits and escrows