Indiana § 37-2-4-11 - Advances to perform covenants of debtor
Full text of Indiana Indiana Code § 37-2-4-11 — Advances to perform covenants of debtor, with citation guidance and answers to common questions.
§ 37-2-4-11. Advances to perform covenants of debtor
Sec. 11. (a) If the agreement with respect to a consumer loan, refinancing, or consolidation contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and if the lender pursuant to the agreement pays for performance of the duties on behalf of the debtor, the lender may add the amounts paid to the debt. Within a reasonable time after advancing any sums, the lender shall state to the debtor in writing the amount of the sums advanced, any charges with respect to this amount, and any revised payment schedule and, if the duties of the debtor performed by the lender pertain to insurance, a brief description of the insurance paid for by the lender including the type and amount of coverages. No further information need be given.
(b) A loan finance charge may be made for sums advanced pursuant to subsection (a) at a rate not exceeding the rate stated to the debtor pursuant to section 14 of this chapter with respect to the loan, refinancing, or consolidation, except that with respect to a revolving loan account the amount of the advance may be added to the unpaid balance of the debt and the lender may make a loan finance charge not exceeding that permitted by the provisions on loan finance charge for consumer loans set forth in section 4 of this chapter or for supervised loans set forth in section 35 of this chapter, whichever is appropriate.
[Pre-2026 Revision Citation: 24-4.5-3-208.]
As added by P.L.115-2026, SEC.97.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 37-2-4-11
What does Indiana Code § 37-2-4-11 cover?
Section 37-2-4-11 ("Advances to perform covenants of debtor") 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 § 37-2-4-11?
A common citation format is "Indiana Code § 37-2-4-11" (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 § 37-2-4-11 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.