Indiana § 24-7-1-5 - Prohibited agreements; disguised consumer credit sales
Full text of Indiana Indiana Code § 24-7-1-5 — Prohibited agreements; disguised consumer credit sales, with citation guidance and answers to common questions.
§ 24-7-1-5. Prohibited agreements; disguised consumer credit sales
Sec. 5. (a) Rental purchase agreements involving:
(1) motor vehicles (as defined in IC 9-13-2-105(a)), including:
(A) component parts (as defined in IC 9-13-2-34);
(B) major component parts (as defined in IC 9-13-2-95); and
(C) any other parts (as defined in IC 9-13-2-122) other than:
(i) wheels;
(ii) rims; and
(iii) tires;
necessary to operate a motor vehicle;
(2) other titled property; or
(3) live domestic animals (as defined in IC 34-30-30-1);
are prohibited under this article.
(b) If the director determines that a transaction described in IC 24-7-2-9(a) involves the application of subterfuge for the purpose of avoiding the application of the Uniform Consumer Credit Code (IC 37-2), the director may treat the transaction as a disguised consumer credit sale that is subject to IC 37-2. A determination by the director under this subsection:
(1) must be in writing;
(2) shall be delivered to all parties in the transaction; and
(3) is subject to IC 4-21.5-3.
As added by P.L.138-1990, SEC.3. Amended by P.L.2-1991, SEC.85; P.L.63-2001, SEC.5 and P.L.134-2001, SEC.5; P.L.213-2007, SEC.28; P.L.217-2007, SEC.27; P.L.176-2019, SEC.28; P.L.115-2026, SEC.36.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 24-7-1-5
What does Indiana Code § 24-7-1-5 cover?
Section 24-7-1-5 ("Prohibited agreements; disguised consumer credit sales") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 24-7-1-5?
A common citation format is "Indiana Code § 24-7-1-5" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 24-7-1-5 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.