IC 37-3-2-10 — "Small loan"
Chapter 2. Definitions
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Sec. 10. (a) "Small loan" means a loan: (1) with a principal loan amount that is at least fifty dollars ($50) and not more than five hundred fifty dollars ($550); and (2) in which the lender holds the borrower's check for a specific period, or receives the borrower's written authorization to debit the borrower's account (other than as a result of default) under an agreement, either express or implied, for a specific period, before the lender: (A) offers the check for deposit or presentment; or (B) exercises the authorization to debit the borrower's account. (b) The amount of five hundred fifty dollars ($550) in subsection (a)(1) is subject to change under the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), the Reference Base Index to be used under this subsection is the Index for October 2006.
As added by P.L.115-2026, SEC.97.
Source: official publisher (2026 edition)