Usury
Last Review
Statutes
Consumer Loan
Parties may contract for an interest rate not to exceed 25%. (IC 24-4.5-3-201)
Consumer Credit Sale
Parties may contract for an interest rate, but there are maximum limitations. (IC 24-4.5-2-201)
Supervised Loans
"Supervised loan" means a consumer loan in which the rate of the loan finance charge exceeds 25% per year. (IC 24-4.5-3-501)
Money Judgements
Sets a maximum interest at 8% (IC 24-4.6-1-101).
Penalties
A lender who knowingly makes charges in excess of those permitted by the provisions of this article commits a Class A misdemeanor. (IC 24-4.5-5-301)
The effect of the violation of usury laws are contained in IC 24-4.5-5-202.
Cases
Comments
None.
Contributors
MultiState
The statutory information was edited and reviewed with the support of MultiState
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