Indiana Code
Chapter 10. Leasing and Lease-Purchasing Structures
36-1-10-22. Certain Leases Legalized and Validated

Sec. 22. (a) This section applies only to a lease that meets all of the following:
(1) The lease was entered into before January 1, 2019.
(2) The total annual cost of the lease is less than two hundred fifty thousand dollars ($250,000).
(3) Any one (1) of the following applies:
(A) The leasing agent did not comply with section 7(a) of this chapter (as in effect before January 1, 2019) before the lease was entered into.
(B) The leasing agent did not comply with section 14 of this chapter (as in effect before January 1, 2019) before the lease was entered into.
(C) The leasing agent did not comply with both section 7(a) of this chapter (as in effect before January 1, 2019) and section 14 of this chapter (as in effect before January 1, 2019) before the lease was entered into.
(b) A lease described in subsection (a) is valid, notwithstanding the failure of the leasing agent to comply with section 7(a) of this chapter (as in effect before January 1, 2019), section 14 of this chapter (as in effect before January 1, 2019), or both section 7(a) of this chapter (as in effect before January 1, 2019) and section 14 of this chapter (as in effect before January 1, 2019) before the lease was entered into.
(c) This section does not validate a lease described in subsection (a) for failures to comply with statutory requirements other than those set forth in section 7(a) of this chapter (as in effect before January 1, 2019) and section 14 of this chapter (as in effect before January 1, 2019).
As added by P.L.257-2019, SEC.98.

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