TITLE 750 DEPARTMENT OF FINANCIAL INSTITUTIONS
Emergency Rule
LSA Document #22-37(E)
DIGEST
Amends 750 IAC 1-1-1(c) to change the dollar amounts relating to bankruptcy property exemptions, updates the description of one of the exemptions, and identifies the date when the bankruptcy exemptions are next subject to change. Effective March 1, 2022.
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
Sec. 1. (a) The dollar amounts in IC 24-4.5 which are required to be adjusted by IC 24-4.5-1-106, as amended, shall, on January 1, 2021, 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(9) | 2,000/4,000 | Graduated rate (sales) |
| IC 24-4.5-2-201(10) | 51 | Minimum credit service charge |
| IC 24-4.5-2-203.5(1)(a) | 19 | Delinquency charge (sales) |
| IC 24-4.5-2-407(4) | 1,140/4,000 | Security interest (sales or leases) |
| IC 24-4.5-3-201(7) | 51 | Minimum loan finance charge |
| IC 24-4.5-3-203.5(1)(a) | 19 | Delinquency charge (loans) |
| IC 24-4.5-3-508(6) | 2,000/4,000 | Graduated rate (supervised loans) |
| IC 24-4.5-3-508(6) | 51 | Minimum loan finance charge |
| IC 24-4.5-3-510(2) | 4,000 | Land as security (loans) |
| IC 24-4.5-3-511(2) | 1,140/4,000 | Maximum loan term |
| IC 24-4.5-4-301(4) | 1,140 | Property insurance |
| IC 24-4.5-5-103(7) | 4,000 | Deficiency judgment |
| IC 24-4.5-7-104(2) | 660 | Principal loan amount |
| IC 24-4.5-7-201(4) | 660 | Graduated rate scale |
| IC 24-4.5-7-404(3) | 660 | Combined loan amounts |
(b) The dollar amount change which is required to be adjusted by IC 24-9-2-8, as amended, shall be as follows:
| | |
| Amended | Dollar Amounts | Provisions Relating To |
| IC 24-9-2-8 | 48,000 | High cost home loan |
(c) The dollar amount changes amounts set forth in IC 34-55-10-2, as amended, which are required to be adjusted by IC 34-55-10-2.5, as amended, shall on March 1, 2022, be as follows (and next subject to adjustment no later than March 1, 2028):
| | |
| Amended | Dollar Amounts | Provisions Relating To |
| IC 34-55-10-2(c)(1) | 19,300 22,750 | Real estate Personal or family residence |
| IC 34-55-10-2(c)(2) | 10,250 12,100 | Other real estate or tangible property |
| IC 34-55-10-2(c)(3) | 400 450 | 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; emergency rule filed Apr 17, 2014, 3:55 p.m.: 20140423-IR-750140132ERA, eff Jul 1, 2014; emergency rule filed Apr 30, 2014, 9:12 a.m.: 20140507-IR-750140141ERA, eff Jul 1, 2014; emergency rule filed Jun 2, 2014, 10:44 a.m.: 20140611-IR-750140202ERA, eff Jul 1, 2014; emergency rule filed Mar 1, 2016, 1:49 p.m.: 20160309-IR-750160091ERA; emergency rule filed Mar 23, 2016, 2:41 p.m.: 20160330-IR-750160132ERA; emergency rule filed Mar 15, 2018, 12:21 p.m.: 20180321-IR-750180155ERA, eff Jul 1, 2018; emergency rule filed Oct 15, 2020, 12:36 p.m.: 20201021-IR-750200549ERA, eff Jan 1, 2021; emergency rule filed February 11, 2022, 8:22 a .m.: 20220216-IR-750220037ERA, eff Mar 1, 2022)
Filed with Publisher: February 11, 2022, 8:22 a.m.
Posted: 02/16/2022 by Legislative Services Agency
DIN: 20220216-IR-750220037ERA
Composed: Apr 19,2024 12:40:24PM EDT
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