NOTICE: We have some improvements in the works that we're excited for you to experience. Click here to try our new, faster beta site. We will maintain our current site version through the end of CY 2024, so you can switch back as our improvements continue.

 

-IR- Database Guide
-IR- Database: Indiana Register

TITLE 750 DEPARTMENT OF FINANCIAL INSTITUTIONS

Emergency Rule
LSA Document #22-37(E)

DIGEST

Amends 750 IAC 1-1-1(c) to change the dollar amounts relating to bankruptcy property exemptions, updates the description of one of the exemptions, and identifies the date when the bankruptcy exemptions are next subject to change. Effective March 1, 2022.


SECTION 1. 750 IAC 1-1-1 IS AMENDED TO READ AS FOLLOWS:

750 IAC 1-1-1 Dollar amounts in consumer credit code, home loan practices, and bankruptcy exemptions

Authority: IC 24-4.5-1-106; IC 24-4.5-6-107

Sec. 1. (a) The dollar amounts in IC 24-4.5 which are required to be adjusted by IC 24-4.5-1-106, as amended, shall, on January 1, 2021, be as set forth in each of the following Indiana Uniform Consumer Credit Code sections.
Amended  Dollar Amounts  Provisions Relating To 
IC 24-4.5-2-201(9)  2,000/4,000  Graduated rate (sales) 
IC 24-4.5-2-201(10)  51  Minimum credit service charge 
IC 24-4.5-2-203.5(1)(a)  19  Delinquency charge (sales) 
IC 24-4.5-2-407(4)  1,140/4,000  Security interest (sales or leases) 
IC 24-4.5-3-201(7)  51  Minimum loan finance charge 
IC 24-4.5-3-203.5(1)(a)  19  Delinquency charge (loans) 
IC 24-4.5-3-508(6)  2,000/4,000  Graduated rate (supervised loans) 
IC 24-4.5-3-508(6)  51  Minimum loan finance charge 
IC 24-4.5-3-510(2)  4,000  Land as security (loans) 
IC 24-4.5-3-511(2)  1,140/4,000  Maximum loan term 
IC 24-4.5-4-301(4)  1,140  Property insurance 
IC 24-4.5-5-103(7)  4,000  Deficiency judgment 
IC 24-4.5-7-104(2)  660  Principal loan amount 
IC 24-4.5-7-201(4)  660  Graduated rate scale 
IC 24-4.5-7-404(3)  660  Combined loan amounts 

(b) The dollar amount change which is required to be adjusted by IC 24-9-2-8, as amended, shall be as follows:
Amended  Dollar Amounts  Provisions Relating To 
IC 24-9-2-8  48,000  High cost home loan 

(c) The dollar amount changes amounts set forth in IC 34-55-10-2, as amended, which are required to be adjusted by IC 34-55-10-2.5, as amended, shall on March 1, 2022, be as follows (and next subject to adjustment no later than March 1, 2028):
Amended  Dollar Amounts  Provisions Relating To 
IC 34-55-10-2(c)(1)  19,300 22,750  Real estate Personal or family residence 
IC 34-55-10-2(c)(2)  10,250 12,100  Other real estate or tangible property 
IC 34-55-10-2(c)(3)  400 450  Intangible personal property 
(Department of Financial Institutions; Uniform Consumer Credit Reg No. 1, Sec I; filed Jul 6, 1978, 9:30 a.m.: 1 IR 393, eff Jul 1, 1978; filed Oct 15, 1980, 2:30 p.m.: 3 IR 2189, eff Jul 1, 1980; filed Apr 20, 1982: 5 IR 1194, eff Jul 1, 1982; filed Apr 11, 1984, 2:45 p.m.: 7 IR 1257, eff Jul 1, 1984; emergency rule filed Apr 25, 1986, 3:40 p.m.: 9 IR 2210, eff Jul 1, 1986; emergency rule filed Sep 5, 1986, 10:05 a.m.: 10 IR 81, eff Sep 5, 1986; filed Jan 6, 1987, 10:10 a.m.: 10 IR 1083; emergency rule filed Mar 28, 1988, 1:37 p.m.: 11 IR 2905, eff Jul 1, 1988; emergency rule filed May 14, 1992, 2:00 p.m.: 15 IR 2267, eff Jul 1, 1992; emergency rule filed Mar 21, 1994, 10:30 a.m.: 17 IR 1917, eff Jul 1, 1994; emergency rule filed Mar 18, 1996, 10:05 a.m.: 19 IR 2092, eff Jul 1, 1996; emergency rule filed Mar 17, 1998, 11:20 a.m.: 21 IR 3026, eff Jul 1, 1998; emergency rule filed Mar 14, 2002, 1:38 p.m.: 25 IR 2540, eff Jul 1, 2002; emergency rule filed Feb 16, 2004, 11:24 a.m.: 27 IR 2297, eff Jul 1, 2004; emergency rule filed Mar 13, 2006, 1:25 p.m.: 29 IR 2583, eff Jul 1, 2006; emergency rule filed Feb 22, 2008, 12:10 p.m.: 20080305-IR-750080119ERA, eff Jul 1, 2008; emergency rule filed Feb 11, 2010, 2:52 p.m.: 20100224-IR-750100103ERA; errata filed Apr 28, 2010, 10:12 a.m.: 20100512-IR-750100103ACA; emergency rule filed May 1, 2012, 2:20 p.m.: 20120509-IR-750120211ERA, eff Jul 1, 2012; emergency rule filed Apr 17, 2014, 3:55 p.m.: 20140423-IR-750140132ERA, eff Jul 1, 2014; emergency rule filed Apr 30, 2014, 9:12 a.m.: 20140507-IR-750140141ERA, eff Jul 1, 2014; emergency rule filed Jun 2, 2014, 10:44 a.m.: 20140611-IR-750140202ERA, eff Jul 1, 2014; emergency rule filed Mar 1, 2016, 1:49 p.m.: 20160309-IR-750160091ERA; emergency rule filed Mar 23, 2016, 2:41 p.m.: 20160330-IR-750160132ERA; emergency rule filed Mar 15, 2018, 12:21 p.m.: 20180321-IR-750180155ERA, eff Jul 1, 2018; emergency rule filed Oct 15, 2020, 12:36 p.m.: 20201021-IR-750200549ERA, eff Jan 1, 2021; emergency rule filed February 11, 2022, 8:22 a .m.: 20220216-IR-750220037ERA, eff Mar 1, 2022)


LSA Document #22-37(E)
Filed with Publisher: February 11, 2022, 8:22 a.m.


Posted: 02/16/2022 by Legislative Services Agency

DIN: 20220216-IR-750220037ERA
Composed: Oct 07,2024 2:16:27PM EDT
A PDF version of this document.