First Lien Mortgage Transactions; Civil Liability for Disclosure Violations; Debtor's Right to Rescind

  1. Law
  2. Indiana Code
  3. Trade Regulation
  4. Uniform Consumer Credit Code
  5. Remedies and Penalties
  6. First Lien Mortgage Transactions; Civil Liability for Disclosure Violations; Debtor's Right to Rescind

Checkout our iOS App for a better way to browser and research.

Sec. 201. For purposes of the provisions on civil liability for violation of disclosure provisions (IC 24-4.5-5-203) and on debtor's right to rescind certain transactions (IC 24-4.5-5-204):

(1) consumer credit sale includes a sale that is a first lien mortgage transaction if the sale is otherwise a consumer credit sale; and

(2) consumer loan includes a loan that is a first lien mortgage transaction if the loan is otherwise a consumer loan.

Formerly: Acts 1971, P.L.366, SEC.6. As amended by Acts 1981, P.L.218, SEC.7; P.L.152-1986, SEC.69; P.L.35-2010, SEC.62.


Download our app to see the most-to-date content.