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Chapter 1. Application
24-7-1-0.1. Application of Article - Sec. 0.1. The addition of this article by P.L.254-1987 does...
24-7-1-1. Rental Purchase Agreements Affected; Lessee's Residence - Sec. 1. (a) This article applies to a rental purchase...
24-7-1-2. Inapplicable Law - Sec. 2. Except as provided in this article, the provisions...
24-7-1-3. Waiver of Statutory Protections; Settlement - Sec. 3. Except as provided in this article, a lessor...
24-7-1-4. Legal and Equitable Principles Applicable - Sec. 4. Except as provided in this article, this article...
24-7-1-5. Prohibited Agreements; Disguised Consumer Credit Sales - Sec. 5. (a) Rental purchase agreements involving: (1) motor vehicles...
24-7-1-6. Inapplicability to Rental of Musical Instruments Through Programs at Schools - Sec. 6. This article does not apply to the rental...
24-7-1-7. Inapplicability to Rental Purchase of a Dwelling - Sec. 7. This article does not apply to the rental...
Chapter 2. Definitions
24-7-2-1. Applicability of Definitions - Sec. 1. The definitions in this chapter apply throughout this...
24-7-2-2. "Department" - Sec. 2. "Department" has the meaning set forth in IC...
24-7-2-2.5. "Consumer Credit Protection Act" - Sec. 2.5. "Consumer Credit Protection Act" has the meaning set...
24-7-2-3. "Consummation" - Sec. 3. "Consummation" means the time or date on which...
24-7-2-3.5. "Initial Rental Payment" - Sec. 3.5. "Initial rental payment" means any up-front payment: (1)...
24-7-2-4. Repealed - As added by P.L.254-1987, SEC.1. Repealed by P.L.159-2017, SEC.22.
24-7-2-5. "Lessee" - Sec. 5. "Lessee" means an individual who rents property under...
24-7-2-6. "Lessor" - Sec. 6. "Lessor" means an individual or other person who,...
24-7-2-7. "Period" - Sec. 7. "Period" means a day, week, month, or other...
24-7-2-8. "Property" - Sec. 8. "Property" means any property that: (1) is not...
24-7-2-8.5. "Regular Rental Payment" - Sec. 8.5. "Regular rental payment" means a periodic payment in...
24-7-2-9. "Rental Purchase Agreement" - Sec. 9. (a) "Rental purchase agreement" means an agreement between...
Chapter 3. Disclosures; Form of Rental Purchase Agreement
24-7-3-1. Written Agreement - Sec. 1. The lessor shall reduce a rental purchase agreement...
24-7-3-2. Alternate Disclosure Requirements - Sec. 2. A lessor shall disclose to a lessee the...
24-7-3-3. Required Disclosures - Sec. 3. The lessor shall disclose the following: (1) A...
24-7-3-4. Form of Disclosures - Sec. 4. (a) The disclosures required under section 3 of...
24-7-3-5. Time of Disclosure - Sec. 5. The lessor shall disclose all information required in...
24-7-3-6. Copy of Written and Signed Agreement to Lessee - Sec. 6. The lessor shall obtain the signature of the...
24-7-3-7. Size of Print - Sec. 7. The terms of the rental purchase agreement shall...
24-7-3-8. Rental Payment Receipts - Sec. 8. The lessor shall furnish the lessee, without request...
Chapter 4. Limitations
24-7-4-1. Lessee's Acquisition of Ownership - Sec. 1. At any time after a rental purchase agreement...
24-7-4-1.5. Repealed - As added by P.L.69-2018, SEC.36. Repealed by P.L.176-2019, SEC.33.
24-7-4-2. Contractual Abridgement of Rights and Duties - Sec. 2. A rental purchase agreement may not contain a...
24-7-4-3. Assignment of Earnings as Payment - Sec. 3. (a) A lessor may not accept an assignment...
24-7-4-4. Acceptance of Authorization on Behalf of Lessee Waiving Service of Process, Confessing Judgment, or Enforcing Payment - Sec. 4. A lessor may not take or accept a...
24-7-4-5. Required Waiver of Lessee's Defenses, Counterclaims, or Rights of Action in Collecting Payments or Charges - Sec. 5. A lessor may not require a lessee to...
24-7-4-6. Repossession Limited - Sec. 6. A lessor may not require a lessee to...
24-7-4-7. Prejudgment Garnishment - Sec. 7. A lessor may not require a lessee to...
24-7-4-8. Repealed - As added by P.L.254-1987, SEC.1. Repealed by P.L.45-1995, SEC.33.
24-7-4-9. Assignee of Lessor's Rights; Lessee's Rights Against Assignee; Contractual Abridgement of Lessee's Claims or Defenses - Sec. 9. (a) With respect to a rental purchase agreement,...
24-7-4-10. Notice and Proof of Assignment - Sec. 10. (a) The lessee may pay the original lessor...
24-7-4-11. Prohibited Acts; Additional Payments; Payments Exceeding Acquisition Cost; Payments to Third Parties - Sec. 11. Except as provided in section 1 of this...
24-7-4-12. Mandatory Insurance; Early Termination of Agreement or Item Return Penalties; Fees or Charges Imposed on Cosigner - Sec. 12. A lessor may not require any of the...
24-7-4-13. Acceptance and Application of Payments; Payments Exceeding Scheduled Amount Due - Sec. 13. (a) Except as provided in subsection (b), a...
Chapter 5. Additional Charges
24-7-5-1. Nonrefundable Processing Fee - Sec. 1. A lessor may contract for and receive an...
24-7-5-2. Security Deposit Refunds - Sec. 2. A lessor may refuse to refund any part...
24-7-5-3. Delivery Charges - Sec. 3. (a) A lessor may contract for and receive...
24-7-5-4. Rental Payment Pickup Charges - Sec. 4. (a) A lessor may contract for and receive...
24-7-5-5. Late Charges or Delinquency Fees - Sec. 5. (a) The parties to a rental purchase agreement...
24-7-5-5.5. Returned Payment Fee - Sec. 5.5. A lessor may contract for and charge a...
24-7-5-6. Reinstatement Fee - Sec. 6. A reinstatement fee imposed under IC 24-7-6-2 may...
24-7-5-7. Sales and Use Taxes - Sec. 7. In addition to those charges allowable by this...
24-7-5-8. Official Fees - Sec. 8. In addition to those charges allowable by this...
24-7-5-10. Liability of Lessee for Replacement Cost of Leased Property; Fair Market Value - Sec. 10. (a) If a lessee is liable to a...
24-7-5-11. Liability Damage Waivers; Fee; Prohibitions and Requirements - Sec. 11. (a) In addition to the other charges permitted...
24-7-5-12. Fee for Accepting Rental Payments by Telephone - Sec. 12. (a) A lessor may contract for and receive...
Chapter 6. Reinstatement; Garnishment; Unconscionable Agreements
24-7-6-1. Reinstatement of Original Agreement; Conditions - Sec. 1. A lessee who fails to make timely rental...
24-7-6-2. Charges Allowed as Condition Precedent to Reinstatement - Sec. 2. (a) As a condition precedent to reinstatement of...
24-7-6-3. Same or Substituted Leased Item Upon Reinstatement; Revised Disclosures - Sec. 3. If reinstatement occurs under sections 1 through 2...
24-7-6-4. Prejudgment Garnishment Proceedings - Sec. 4. (a) IC 24-4.5-5-105 and IC 24-4.5-5-106 apply to...
24-7-6-5. Unconscionable Agreements - Sec. 5. (a) If the court as a matter of...
Chapter 7. Enforcement; Adjustment in Maximum Fees
24-7-7-1. Enforcement by Department; Civil Penalty - Sec. 1. (a) The department shall enforce this article. To...
24-7-7-2. Record Keeping Requirements; Lessor's Ownership Rights; Examinations and Investigations - Sec. 2. (a) A person subject to this article shall...
24-7-7-3. Assurance of Discontinuance of Misconduct - Sec. 3. If it is claimed that a person has...
24-7-7-4. Repealed - As added by P.L.254-1987, SEC.1. Repealed by P.L.138-1990, SEC.15.
Chapter 8. Registration of Lessors
24-7-8-1. Notification by Lessor - Sec. 1. A lessor shall file notification with the department:...
24-7-8-2. Contents of Notification - Sec. 2. The notification required under section 1 of this...
24-7-8-3. Corrective Notification - Sec. 3. After a lessor has filed an initial or...
24-7-8-4. Fees; Costs of Examination by Department; Late Fees - Sec. 4. (a) A lessor required to file a notification...
24-7-8-5. Directors, Executive Officers, Indiana Store Managers; Criminal Background Checks - Sec. 5. Before appointing or hiring any director, executive officer,...
24-7-8-6. Conducting Other Business at Rental Purchase Location; Conditions; Lessor Not Relieved From Applicable Laws - Sec. 6. (a) Subject to subsection (b), a lessor required...
Chapter 9. Violations; Civil Damages
24-7-9-1. False or Inaccurate Information in Agreements or Disclosures; Offense - Sec. 1. A lessor who knowingly gives false or inaccurate...
24-7-9-2. Failure to Provide Required Information; Offense - Sec. 2. A lessor who knowingly fails to provide information...
24-7-9-3. Unauthorized or Excessive Charges; Offense - Sec. 3. A lessor who knowingly makes a charge under...
24-7-9-4. Civil Damages Recoverable by Lessee - Sec. 4. (a) If a lessor violates this article and...
24-7-9-5. Defenses; Clerical Error and Correction - Sec. 5. It is a defense in a criminal proceeding...
24-7-9-6. Defense; Compliance With Rules - Sec. 6. It is a defense in a criminal proceeding...
24-7-9-7. Limitation of Actions - Sec. 7. Notwithstanding any other law, an action to recover...