{"data":{"id":"us-in/ic-24-7-1-5","jurisdiction":"us-in","citation":"IC 24-7-1-5","heading":"Prohibited agreements; disguised consumer credit sales","body":"Sec. 5. (a) Rental purchase agreements involving:\n(1) motor vehicles (as defined in IC 9-13-2-105(a)), including:\n(A) component parts (as defined in IC 9-13-2-34);\n(B) major component parts (as defined in IC 9-13-2-95); and\n(C) any other parts (as defined in IC 9-13-2-122) other than:\n(i) wheels;\n(ii) rims; and\n(iii) tires;\nnecessary to operate a motor vehicle;\n(2) other titled property; or\n(3) live domestic animals (as defined in IC 34-30-30-1);\nare prohibited under this article.\n(b) If the director determines that a transaction described in IC 24-7-2-9(a) involves the application of subterfuge for the purpose of avoiding the application of the Uniform Consumer Credit Code (IC 37-2), the director may treat the transaction as a disguised consumer credit sale that is subject to IC 37-2. A determination by the director under this subsection:\n(1) must be in writing;\n(2) shall be delivered to all parties in the transaction; and\n(3) is subject to IC 4-21.5-3.","path":["TITLE 24. TRADE REGULATION","ARTICLE 7. RENTAL PURCHASE AGREEMENTS","Chapter 1. Application"],"source_url":"https://iga.in.gov/ic/2026/Title_24.html#24-7-1-5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-04T18:50:41Z","sha256":"fe4ece32c53918afef4827993d211c8fc09976dd6f8c430b4ced0939d6f2bbb6","source_id":"us-in","stale":false,"prev":"us-in/ic-24-7-1-4","next":"us-in/ic-24-7-1-6"},"notice":"GroundRules: Original legal text. Not legal advice."}