IC 37-2-2-45: "Revolving loan account"

Sec. 45. "Revolving loan account" means an arrangement between a lender and a debtor pursuant to which:

(1) the lender may permit the debtor to obtain loans from time to time;

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

(3) a loan finance charge if made is not precomputed but is computed on the outstanding unpaid balances of the debtor's account from time to time; and

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