Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds

Ind. Code § 37-2-6-11
in effect
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Sec. 11. (a) A violation by a creditor of Section 125 of the Consumer Credit Protection Act concerning the debtor's right to rescind a transaction that is a consumer credit sale or a consumer loan constitutes a violation of this article. A creditor may not accrue interest during the period when a consumer loan may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635). (b) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (a) on the later of: (1) the date the creditor is reasonably satisfied that the consumer has not rescinded the transaction; or (2) the first business day after the expiration of the rescission period under subsection (a). [Pre-2026 Revision Citation: 24-4.5-5-204.] 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

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