IC 37-2-3-30: Credit service charges with respect to consumer related sales; annual notice to department not required

Sec. 30. (a) With respect to a consumer related sale not made pursuant to a revolving charge account, the parties may contract for an amount comprising the amount financed and a credit service charge not in excess of twenty-five percent (25%) per year calculated according to the actuarial method on the unpaid balances of the amount financed.

(b) With respect to a consumer related sale made pursuant to a revolving charge account, the parties may contract for a credit service charge not in excess of that permitted by the provisions on credit service charge for revolving charge accounts set forth in section 4(f) of this chapter.

(c) A person engaged in consumer related sales is not required to comply with IC 37-2-7-24 through IC 37-2-7-26.