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TITLE 750 DEPARTMENT OF FINANCIAL INSTITUTIONS

Emergency Rule
LSA Document #12-211(E)

DIGEST

Amends 750 IAC 1-1-1 to change the dollar amounts in the Uniform Consumer Credit Code and home loan practices. Authority: IC 4-22-2-37.1(a)(6). Effective July 1, 2012.



SECTION 1. 750 IAC 1-1-1 IS AMENDED TO READ AS FOLLOWS:

750 IAC 1-1-1 Dollar amounts in consumer credit code, home loan practices, and bankruptcy exemptions

Authority: IC 24-4.5-1-106; IC 24-4.5-6-107; IC 34-55-10-2.5


Sec. 1. (a) The dollar amounts in IC 24-4.5 which are required to be changed by IC 24-4.5-1-106, as amended, shall, on July 1, 2010, 2012, be as set forth in each of the following Indiana Uniform Consumer Credit Code sections:
Amended  Dollar Amounts  Provisions Relating To 
IC 24-4.5-2-201(7)  1,080/3,600  Graduated rate (sales) 
IC 24-4.5-2-201(8)  45  Minimum credit service charge 
IC 24-4.5-2-203.5(5)  18  Delinquency charge (sales) 
IC 24-4.5-2-407(4)  1,080/3,600  Security interest (sales or leases) 
IC 24-4.5-3-201(7)  45  Minimum loan finance charge 
IC 24-4.5-3-203.5(5)  18  Delinquency charge (loans) 
IC 24-4.5-3-508(6)  1,080/3,600  Graduated rate (supervised loans) 
IC 24-4.5-3-508(7)  45  Minimum loan finance charge 
IC 24-4.5-3-510(2)  3,600  Land as security (loans) 
IC 24-4.5-3-511(2)  1,080/3,600  Maximum loan term 
IC 24-4.5-4-301(4)  1,080  Property insurance 
IC 24-4.5-5-103(7)  3,600  Deficiency judgment 
IC 24-4.5-7-104(2)  605  Principal loan amount 
IC 24-4.5-7-201(4)  605  Graduated rate scale 
IC 24-4.5-7-404(3)  605  Combined loan amounts 

(b) The dollar amount change set forth in which is required to be changed by IC 24-9-2-8, takes effect as amended, shall be on July 1, 2010. 2012, as follows:
Amended  Dollar Amounts  Provisions Relating To 
IC 24-9-2-8  44,000  High cost home loan 

(c) The dollar amount changes set forth in IC 34-55-10-2, take effect March 1, 2010. as amended, which are required to be changed by IC 34-55-10-2.5, as amended, shall be as follows:
Amended  Dollar Amounts  Provisions Relating To 
IC 24-4.5-2-201(7)  1,050/3,500  Graduated rate (sales) 
IC 24-4.5-2-201(8)  45  Minimum credit service charge 
IC 24-4.5-2-203.5(5)  17.50  Delinquency charge (sales) 
IC 24-4.5-2-407(4)  3,500/1,050  Security interest (sales or leases) 
IC 24-4.5-3-201(7)  45  Minimum loan finance charge 
IC 24-4.5-3-203.5(5)  17.50  Delinquency charge (loans) 
IC 24-4.5-3-508(6)  1,050/3,500  Graduated rate (supervised loans) 
IC 24-4.5-3-508(7)  45  Minimum loan finance charge 
IC 24-4.5-3-510(2)  3,500  Land as security (loans) 
IC 24-4.5-3-511(2)  1,050/3,500  Maximum loan term 
IC 24-4.5-4-301(4)  1,050  Property insurance 
IC 24-4.5-5-103(7)  3,500  Deficiency judgment 
IC 24-4.5-7-104(2)  550  Principal loan amount 
IC 24-4.5-7-201(4)  550  Graduated rate scale 
IC 24-4.5-7-404(3)  550  Combined loan amounts 
IC 24-9-2-8  40,000  High cost home loan 
IC 34-55-10-2(c)(1)  17,600  Real estate family residence 
IC 34-55-10-2(c)(2)  9,350  Other real estate or tangible property 
IC 34-55-10-2(c)(3)  350  Intangible personal property 
(Department of Financial Institutions; Uniform Consumer Credit Reg No. 1, Sec I; filed Jul 6, 1978, 9:30 a.m.: 1 IR 393, eff Jul 1, 1978; filed Oct 15, 1980, 2:30 p.m.: 3 IR 2189, eff Jul 1, 1980; filed Apr 20, 1982: 5 IR 1194, eff Jul 1, 1982; filed Apr 11, 1984, 2:45 p.m.: 7 IR 1257, eff Jul 1, 1984; emergency rule filed Apr 25, 1986, 3:40 p.m.: 9 IR 2210, eff Jul 1, 1986; emergency rule filed Sep 5, 1986, 10:05 a.m.: 10 IR 81, eff Sep 5, 1986; filed Jan 6, 1987, 10:10 a.m.: 10 IR 1083; emergency rule filed Mar 28, 1988, 1:37 p.m.: 11 IR 2905, eff Jul 1, 1988; emergency rule filed May 14, 1992, 2:00 p.m.: 15 IR 2267, eff Jul 1, 1992; emergency rule filed Mar 21, 1994, 10:30 a.m.:17 IR 1917, eff Jul 1, 1994; emergency rule filed Mar 18, 1996, 10:05 a.m.: 19 IR 2092, eff Jul 1, 1996; emergency rule filed Mar 17, 1998, 11:20 a.m.: 21 IR 3026, eff Jul 1, 1998; emergency rule filed Mar 14, 2002, 1:38 p.m.: 25 IR 2540, eff Jul 1, 2002; emergency rule filed Feb 16, 2004, 11:24 a.m.: 27 IR 2297, eff Jul 1, 2004; emergency rule filed Mar 13, 2006, 1:25 p.m.: 29 IR 2583, eff Jul 1, 2006; emergency rule filed Feb 22, 2008, 12:10 p.m.: 20080305-IR-750080119ERA, eff Jul 1, 2008; emergency rule filed Feb 11, 2010, 2:52 p.m.: 20100224-IR-750100103ERA; errata filed Apr 28, 2010, 10:12 a.m.: 20100512-IR-750100103ACA; emergency rule filed May 1, 2012, 2:20 p.m.: 20120509-IR-750120211ERA, eff Jul 1, 2012)


SECTION 2. SECTION 1 of this document takes effect July 1, 2012.

LSA Document #12-211(E)
Filed with Publisher: May 1, 2012, 2:20 p.m.

Posted: 05/09/2012 by Legislative Services Agency

DIN: 20120509-IR-750120211ERA
Composed: Dec 22,2014 6:25:53PM EST
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