Indiana § 37-2-5-15 - Insurance on creditor's interest only
Full text of Indiana Indiana Code § 37-2-5-15 — Insurance on creditor's interest only, with citation guidance and answers to common questions.
§ 37-2-5-15. Insurance on creditor's interest only
Sec. 15. If a creditor contracts for or receives a separate charge for insurance against loss of or damage to property, the risk of loss or damage not willfully caused by the debtor is on the debtor only to the extent of any deficiency in the effective coverage of the insurance, even though the insurance covers only the interest of the creditor.
[Pre-2026 Revision Citation: 24-4.5-4-302.]
As added by P.L.115-2026, SEC.97.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 37-2-5-15
What does Indiana Code § 37-2-5-15 cover?
Section 37-2-5-15 ("Insurance on creditor's interest only") 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 § 37-2-5-15?
A common citation format is "Indiana Code § 37-2-5-15" (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 § 37-2-5-15 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.