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IC 26-2-9-0.2
Application of certain amendments to prior law
Sec. 0.2. The addition of IC 32-2-1.5 (before its repeal, now
codified in this chapter) by P.L.275-1989 does not apply to credit
agreements entered into before July 1, 1989.
As added by P.L.220-2011, SEC.419.
IC 26-2-9-1
"Credit agreement"
Sec. 1. (a) As used in this chapter, "credit agreement" means an
agreement to:
(1) lend or forbear repayment of money, goods, or things in
action;
(2) otherwise extend credit; or
(3) make any other financial accommodation.
(b) The term includes an agreement to:
(1) amend or modify an agreement;
(2) enter into a new agreement;
(3) forbear from exercising rights under an agreement; or
(4) grant an extension under an agreement;
described in subsection (a).
As added by P.L.2-2002, SEC.79. Amended by P.L.10-2006, SEC.25
and P.L.57-2006, SEC.25; P.L.76-2011, SEC.1.
IC 26-2-9-2
"Creditor"
Sec. 2. As used in this chapter, "creditor" means:
(1) a bank, a savings bank, a trust company, a savings
association, a credit union, an industrial loan and investment
company, or any other financial institution regulated by any
agency of the United States or any state, including a consumer
finance institution licensed to make supervised or regulated
loans under IC 24-4.5;
(2) a person authorized to sell and service loans for the Federal
National Mortgage Association or the Federal Home Loan
Mortgage Corporation, issue securities backed by the
Government National Mortgage Association, make loans
insured by the United States Department of Housing and Urban
Development, make loans guaranteed by the United States
Department of Veterans Affairs, or act as a correspondent of
loans insured by the United States Department of Housing and
Urban Development or guaranteed by the United States
Department of Veterans Affairs; or
(3) an insurance company or its affiliates that extend credit
under a credit agreement with a debtor.
As added by P.L.2-2002, SEC.79.
IC 26-2-9-4
Claims and defenses arising from credit agreements; writing
required
Sec. 4. (a) A debtor may assert:
(1) a claim for legal or equitable relief; or
(2) a defense to a claim;
arising from a credit agreement only if the credit agreement at issue
satisfies the requirements set forth in subsection (b).
(b) A debtor may assert a claim or defense under subsection (a)
only if the credit agreement at issue:
(1) is in writing;
(2) sets forth all material terms and conditions of the credit
agreement, including the loan amount, rate of interest, duration,
and security; and
(3) is signed by the creditor and the debtor.
As added by P.L.2-2002, SEC.79. Amended by P.L.10-2006, SEC.26
and P.L.57-2006, SEC.26; P.L.76-2011, SEC.2.
IC 26-2-9-5
Repealed
(Repealed by P.L.76-2011, SEC.3.)