Indiana § 37-2-6-11 - Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds
Full text of Indiana Indiana Code § 37-2-6-11 — Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds, with citation guidance and answers to common questions.
§ 37-2-6-11. Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds
Sec. 11. (a) A violation by a creditor of Section 125 of the Consumer Credit Protection Act concerning the debtor's right to rescind a transaction that is a consumer credit sale or a consumer loan constitutes a violation of this article. A creditor may not accrue interest during the period when a consumer loan may be rescinded under Section 125 of the Consumer Credit Protection Act (15 U.S.C. 1635).
(b) A creditor must make available for disbursement the proceeds of a transaction subject to subsection (a) on the later of:
(1) the date the creditor is reasonably satisfied that the consumer has not rescinded the transaction; or
(2) the first business day after the expiration of the rescission period under subsection (a).
[Pre-2026 Revision Citation: 24-4.5-5-204.]
As added by P.L.115-2026, SEC.97.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 37-2-6-11
What does Indiana Code § 37-2-6-11 cover?
Section 37-2-6-11 ("Debtor's right to rescind; accruing interest prohibited during rescission period; disbursement of proceeds") 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 § 37-2-6-11?
A common citation format is "Indiana Code § 37-2-6-11" (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 § 37-2-6-11 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.