{"data":{"id":"us-in/ic-37-3-2-10","jurisdiction":"us-in","citation":"IC 37-3-2-10","heading":"\"Small loan\"","body":"Sec. 10. (a) \"Small loan\" means a loan:\n(1) with a principal loan amount that is at least fifty dollars ($50) and not more than five hundred fifty dollars ($550); and\n(2) in which the lender holds the borrower's check for a specific period, or receives the borrower's written authorization to debit the borrower's account (other than as a result of default) under an agreement, either express or implied, for a specific period, before the lender:\n(A) offers the check for deposit or presentment; or\n(B) exercises the authorization to debit the borrower's account.\n(b) The amount of five hundred fifty dollars ($550) in subsection (a)(1) is subject to change under the provisions on adjustment of dollar amounts set forth in IC 37-2-1-5. However, notwithstanding IC 37-2-1-5(a), the Reference Base Index to be used under this subsection is the Index for October 2006.","path":["TITLE 37. CONSUMER LENDING","ARTICLE 3. SMALL LOANS","Chapter 2. Definitions"],"source_url":"https://iga.in.gov/ic/2026/Title_37.html#37-3-2-10","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-22T06:53:15Z","sha256":"1e9e72eff9426e8cabaa900f8c5581f516f5c5bb14b7f2342c082203309e1a26","source_id":"us-in","stale":false,"prev":"us-in/ic-37-3-2-9","next":"us-in/ic-37-3-3-1"},"notice":"GroundRules: Original legal text. Not legal advice."}