Indiana § 24-12-4-2 - Required CPAP notice

§ 24-12-4-2. Required CPAP notice

Sec. 2. (a) Except as provided in subsection (c), in a civil proceeding in which a consumer claimant is a party, the consumer claimant or the consumer claimant's attorney shall provide to:

(1) each of the other parties in the civil proceeding; and

(2) each insurer that has a duty to defend another party in the civil proceeding;

written notice that the consumer claimant has entered into a CPAP contract with a CPAP provider.

(b) A consumer claimant or the consumer claimant's attorney shall provide the written notice required by subsection (a) within a reasonable time after the date on which the consumer claimant and the CPAP provider enter into the CPAP contract, regardless of whether any other party in the civil proceeding is aware of the existence of or seeks information about the CPAP contract.

(c) Subsection (a) does not apply if the court in which the civil proceeding is filed issues an order excusing the consumer claimant from the duty to provide the written notice required by subsection (a).

(d) In a civil proceeding in which a consumer claimant is a party, the existence and contents of the CPAP contract are subject to discovery under the Indiana Rules of Trial Procedure by:

(1) a party other than the consumer claimant; or

(2) an insurer that has a duty to defend another party in the civil proceeding.

(e) The written notice provided under subsection (a) is not admissible as evidence in a court proceeding.

As added by P.L.63-2023, SEC.1.

IC 24-12-4.5Chapter 4.5. Charges

24-12-4.5-1Applicability 24-12-4.5-2Fee; servicing charge; document charges; limitations

IC 24-12-4.5-1Applicability Sec. 1. This chapter applies to a CPAP transaction offered or entered into after June 30, 2016.

As added by P.L.176-2019, SEC.40.

IC 24-12-4.5-2Fee; servicing charge; document charges; limitations Sec. 2. (a) With respect to a CPAP transaction, a CPAP provider may impose the following:

(1) A fee that is:

(A) calculated at an annual rate that does not exceed thirty-six percent (36%) of the funded amount; and

(B) earned at consummation and each year after consummation on the anniversary of the funding date, in the case of a CPAP transaction offered or entered into after June 30, 2019.

(2) A servicing charge that is:

(A) calculated at an annual rate that does not exceed seven percent (7%) of the funded amount; and

(B) earned at consummation and each year after consummation on the anniversary of the funding date, in the case of a CPAP transaction offered or entered into after June 30, 2019.

(3) With respect to any one (1) civil proceeding, total charges that do not exceed five hundred dollars ($500) for obtaining and preparing documents, in the case of a CPAP transaction offered or entered into after June 30, 2019.

(4) The following with respect to a CPAP transaction offered or entered into after June 30, 2016, and before July 1, 2019:

(A) If the funded amount of the CPAP transaction is less than five thousand dollars ($5,000), a one (1) time charge that does not exceed two hundred fifty dollars ($250) for obtaining and preparing documents.

(B) If the funded amount of the CPAP transaction is at least five thousand dollars ($5,000), a one (1) time charge that does not exceed five hundred dollars ($500) for obtaining and preparing documents.

(b) A CPAP provider may not assess, or collect from the consumer claimant, any fee or charge not otherwise permitted under this chapter in connection with a CPAP transaction. The fees and charges permitted under this chapter are not subject to refund or rebate.

As added by P.L.176-2019, SEC.40.

IC 24-12-5Chapter 5. Violations

24-12-5-1Enforcement by department of financial institutions 24-12-5-2Court's determination of intentional violation; CPAP provider entitled to funded amount only