IC 37-2-4-8 — Loan financing charge on refinancing
Chapter 4. Loans
Bills citing this section
Section text
Sec. 8. With respect to a consumer loan, refinancing, or consolidation, the lender may by agreement with the debtor refinance the unpaid balance and may contract for and receive a loan finance charge based on the principal resulting from the refinancing at a rate not exceeding that permitted by the provisions on a loan finance charge for consumer loans (section 4 of this chapter) or the provisions on a loan finance charge for supervised loans (section 35 of this chapter), whichever is appropriate. For the purpose of determining the loan finance charge permitted, the principal resulting from the refinancing comprises the following: (1) If: (A) the transaction was not precomputed, the total of the unpaid balance and the accrued charges on the date of the refinancing; or (B) the transaction was precomputed, in the case of a transaction entered into before July 1, 2020, the amount which the debtor would have been required to pay upon prepayment pursuant to the provisions on rebate upon prepayment under section 13 of this chapter on the date of refinancing. (2) Appropriate additional charges under section 5 of this chapter, payment of which is deferred.
As added by P.L.115-2026, SEC.97.
Source: official publisher (2026 edition)