Indiana Code 28-6.1-9-2. Loans and extensions of credit
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Terms Used In Indiana Code 28-6.1-9-2
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- person: includes an individual, an association, a business trust, a corporation, an estate, a joint venture, a sole proprietorship, a partnership, a trust, a government, or an agency, an instrumentality, or a political subdivision of a government, or any similar entity. See Indiana Code 28-6.1-9-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 2. As used in this chapter, “loans and extensions of credit” includes all direct or indirect advances of funds to a person made on the basis of an obligation of that person to repay the funds or repayable from specific property pledged by or on behalf of the person. To the extent specified by the department, the term includes a liability of a savings bank to advance funds to or on behalf of a person under a contractual commitment.
As added by P.L.42-1993, SEC.72.