Indiana § 37-2-2-40.5 - "Principal"
Full text of Indiana Indiana Code § 37-2-2-40.5 — "Principal", with citation guidance and answers to common questions.
§ 37-2-2-40.5. "Principal"
Sec. 40.5. "Principal" of a loan means the total of:
(1) the net amount paid to, receivable by, or paid or payable for the account of the debtor;
(2) the amount of any discount excluded from the loan finance charge (section 28.5(b) of this chapter); and
(3) to the extent that payment is deferred:
(A) amounts actually paid or to be paid by the lender for registration, certificate of title, or license fees if not included in subdivision (1); and
(B) additional charges permitted by IC 37-2-4-5.
The term does not include any loan proceeds held as security for the loan.
[Pre-2026 Revision Citation: 24-4.5-3-107(3).]
As added by P.L.115-2026, SEC.97.
Frequently Asked Questions About Indiana § 37-2-2-40.5
What does Indiana Code § 37-2-2-40.5 cover?
Section 37-2-2-40.5 (""Principal"") 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 § 37-2-2-40.5?
A common citation format is "Indiana Code § 37-2-2-40.5" (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 § 37-2-2-40.5 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.