IC 37-2-2-40.5: "Principal"

Sec. 40.5. "Principal" of a loan means the total of:

(1) the net amount paid to, receivable by, or paid or payable for the account of the debtor;

(2) the amount of any discount excluded from the loan finance charge (section 28.5(b) of this chapter); and

(3) to the extent that payment is deferred:

(A) amounts actually paid or to be paid by the lender for registration, certificate of title, or license fees if not included in subdivision (1); and

(B) additional charges permitted by IC 37-2-4-5.

The term does not include any loan proceeds held as security for the loan.