Fee for dishonored check, electronic funds transfer, or debit authorization; limits on lender's presentment of check or debiting of account
Ind. Code § 37-3-3-3
in effectSec. 3. (a) Notwithstanding any other law, the only fee that may be contracted for and received by the lender or an assignee on a small loan is a charge, not to exceed twenty-five dollars ($25), for each:
(1) return by a bank or other depository institution of a dishonored:
(A) check;
(B) electronic funds transfer;
(C) negotiable order of withdrawal; or
(D) share draft;
issued by the borrower; or
(2) time an authorization to debit the borrower's account is dishonored.
This additional charge may be assessed one (1) time regardless of how many times a check or an authorization to debit the borrower's account may be submitted by the lender and dishonored.
(b) A lender may:
(1) present a borrower's check for payment; or
(2) exercise a borrower's authorization to debit the borrower's account;
not more than three (3) times.
[Pre-2026 Revision Citation: 24-4.5-7-202.]
As added by P.L.115-2026, SEC.97.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/37Fetched: 10/17/2026
