Indiana § 35-45-7-1 Definitions

Indiana Statutes

§ 35-45-7-1 — Definitions

Indiana·Art. 45 OFFENSES AGAINST PUBLIC HEALTH, ORDER,·Ch. 7 Loansharking

As used in this chapter:
"Loan" means any transaction described in section 3 of this chapter,
whether or not the transaction is in the form of a loan as defined in IC 24-4.5-3-106, and without regard to whether the person making the
loan is regularly engaged in making consumer loans, consumer credit
sales, or consumer leases.
"Principal" includes the monetary value of property which has been
loaned from one (1) person to another person.
"Rate" means the monetary value of the consideration received per
annum or due per annum, calculated according to the actuarial method
on the unpaid balance of the principal.
As added by Acts 1980, P.L.207, SEC.1. Amended by
P.L.247-1983, SEC.24.

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As used in this chapter:
"Loan" means any transaction described in section 3 of this chapter,
whether or not the transaction is in the form of a loan as defined in IC 24-4.5-3-106, and without regard to whether the person making the
loan is regularly engaged in making consumer loans, consumer credit
sales, or consumer leases.
"Principal" includes the monetary value of property which has been
loaned from one (1) person to another person.
"Rate" means the monetary value of the consideration received per
annum or due per annum, calculated according to the actuarial method
on the unpaid balance of the principal.
As added by Acts 1980, P.L.207, SEC.1. Amended by
P.L.247-1983, SEC.24.

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