{"data":{"id":"us-in/ic-37-1-3-22","jurisdiction":"us-in","citation":"IC 37-1-3-22","heading":"Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds","body":"Sec. 22. (a) A violation by a creditor in a first lien mortgage transaction of Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635) (concerning a debtor's right to rescind a transaction) constitutes a violation of this article. A creditor may not accrue interest during the period when a first lien mortgage transaction may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635).\n(b) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (a) on the later of:\n(1) the date the creditor is reasonably satisfied that the debtor has not rescinded the transaction; or\n(2) the first business day after the expiration of the rescission period under subsection (a).","path":["TITLE 37. CONSUMER LENDING","ARTICLE 1. FIRST LIEN MORTGAGE LENDING","Chapter 3. Miscellaneous Provisions"],"source_url":"https://iga.in.gov/ic/2026/Title_37.html#37-1-3-22","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-22T06:53:15Z","sha256":"81b42da8536a80236534c57b1bd5355e92756c45e1191d9259187354c871702d","source_id":"us-in","stale":false,"prev":"us-in/ic-37-1-3-21","next":"us-in/ic-37-1-3-23"},"notice":"GroundRules: Original legal text. Not legal advice."}