IC 37-1-2-38: "Revolving first lien mortgage transaction"

Sec. 38. "Revolving first lien mortgage transaction" means a first lien mortgage transaction in which:

(1) the creditor permits the debtor to obtain advances from time to time;

(2) the unpaid balances of principal, finance charges, and other appropriate charges are debited to an account; and

(3) the debtor has the privilege of paying the balances in installments.