Sec. 412. Upon the receipt of a check from a borrower for a small loan, unless the check is marked as void at the time of acceptance by the lender, the lender shall immediately stamp the back of the check with an endorsement that states:
"This check is being negotiated as part of a small loan under IC 24-4.5, and any holder of this check takes it subject to the claims and defenses of the maker.".
As added by P.L.38-2002, SEC.1. Amended by P.L.73-2004, SEC.32; P.L.35-2010, SEC.86.
Structure Indiana Code
Article 4.5. Uniform Consumer Credit Code
24-4.5-7-108. Consecutive Small Loan
24-4.5-7-110. Monthly Gross Income
24-4.5-7-112. Lender Not Considered a Financial Institution
24-4.5-7-301. Disclosures; Informational Brochure
24-4.5-7-401. Term of Loan; Consecutive Small Loans; Extended Payment Plans
24-4.5-7-403. Security for Loan
24-4.5-7-405. Carrying on Other Business
24-4.5-7-406. Borrower's Default; Permissible and Prohibited Remedies; Notice to Borrower
24-4.5-7-410. Prohibited Acts by Lender
24-4.5-7-411. Exemption of Finance Charges
24-4.5-7-412. Endorsement of Check
24-4.5-7-413. Surety Bond; Requirements; Amount; Termination; Liability; Notices