Indiana § 37-5-4-12 - High cost home loan agreements; unconscionable and void provisions

§ 37-5-4-12. High cost home loan agreements; unconscionable and void provisions

Sec. 12. Without regard to whether a borrower is acting individually or on behalf of others similarly situated, a provision of a high cost home loan agreement that:

(1) requires arbitration of a claim or defense;

(2) allows a party to require a borrower to assert a claim or defense in a forum that is:

(A) less convenient;

(B) more costly; or

(C) more dilatory;

for the resolution of the dispute than an Indiana court in which the borrower may otherwise bring a claim or defense; or

(3) limits in any way any claim or defense the borrower may have;

is unconscionable and void.

[Pre-2026 Revision Citation: 24-9-4-12.]

As added by P.L.115-2026, SEC.97.

IC 37-5-5Chapter 5. Claims, Defenses, Remedies

37-5-5-1Purchaser or assignee subject to affirmative claims and defenses; claims available to borrower 37-5-5-2Acceleration; reinstatement of high cost home loan after cure of default 37-5-5-3Foreclosure proceedings 37-5-5-4Liability for violation; exceptions; damages; equitable relief; recoupment; action by homeowner protection unit for deceptive act; statute of limitations; priority of damages over civil penalties 37-5-5-5Unintentional or erroneous violations; corrections by creditors 37-5-5-6Relation to other laws