Indiana · 2026 session · senate
+3 / −186 words · LargeConfidence: medium
This bill reorganizes Indiana's consumer lending laws by repealing and recodifying IC 24-4.4, IC 24-4.5, IC 24-5.5, and IC 24-9 into a new IC 37 framework, effective July 1, 2026. The reorganization removes numerous exemptions and special treatment provisions for specific types of residential mortgage transactions, including owner-occupied properties, first lien mortgages, reverse mortgages, and non-owner-occupied residential loans, while eliminating dollar amount adjustment mechanisms and various prohibitions against deceptive practices and loan structuring to evade consumer protections. The bill establishes transition provisions preserving the validity of existing contracts and documents under the prior statutes and requires state agencies to update their rules by January 1, 2028, with most transition provisions expiring June 30, 2028. While characterized as a recodification without substantive changes, the removal of multiple exemptions and anti-evasion provisions suggests a potentially broader application of consumer lending requirements to residential mortgage transactions previously carved out from coverage.
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