CHAPTER 1. INTEREST LIMITS AND APPLICATION OF OTHER LAWS

IC 24-4.6
    ARTICLE 4.6. SPECIAL PROVISIONS CONCERNINGCERTAIN TRANSACTIONS

IC 24-4.6-1
    Chapter 1. Interest Limits and Application of Other Laws

IC 24-4.6-1-101
Money judgments
    Sec. 101. Except as otherwise provided by statute, interest onjudgments for money whenever rendered shall be from the date ofthe return of the verdict or finding of the court until satisfaction at:
        (1) the rate agreed upon in the original contract sued upon,which shall not exceed an annual rate of eight percent (8%)even though a higher rate of interest may properly have beencharged according to the contract prior to judgment; or
        (2) an annual rate of eight percent (8%) if there was no contractby the parties.
(Formerly: Acts 1974, P.L.115, SEC.2.) As amended by Acts 1981,P.L.220, SEC.1; P.L.149-1988, SEC.1; P.L.208-1993, SEC.1.

IC 24-4.6-1-102
Rate in absence of agreement
    Sec. 102. When the parties do not agree on the rate, interest onloans or forbearances of money, goods or things in action shall be atthe rate of eight percent (8%) per annum until payment of judgment.
(Formerly: Acts 1974, P.L.115, SEC.2.)

IC 24-4.6-1-103
Date of accrual
    Sec. 103. Interest at the rate of eight percent (8%) per annum shallbe allowed:
    (a) From the date of settlement on money due on any instrumentin writing which does not specify a rate of interest and which is notcovered by IC 1971, 24-4.5 or this article;
    (b) And from the date an itemized bill shall have been renderedand payment demanded on an account stated, account closed or formoney had and received for the use of another and retained withouthis consent.
(Formerly: Acts 1974, P.L.115, SEC.2.)

IC 24-4.6-1-104
Computation of interest; methods
    Sec. 104. (a) The parties may agree upon any method ofcomputing interest on a loan or a forbearance of money, goods, orthings in action if the amount of interest on the unpaid balances ofthe principal does not exceed any limitation imposed by law uponcharges incident to the extension of credit.
    (b) Methods of computing interest to which parties may agreeunder this section include the following:        (1) Simple interest on the unpaid balances of the principal.
        (2) Simple interest on the outstanding balance of the principalto which is added past due installments of interest, the sum ofwhich forms the principal upon which interest thereafter shallbe computed. The addition to principal in this manner mayoccur repeatedly but not more frequently than daily.
    (c) Unless the parties agree otherwise, the method of computinginterest agreed upon under this section continues to apply after theterm of the loan or forbearance, including after the award of ajudgment on the loan or forbearance, until all principal and interestand the amount of any judgment are paid.
    (d) If the parties do not agree on the method of computation,interest shall be computed and charged:
        (1) at the rate agreed to by the parties or as provided in section102 of this chapter; and
        (2) according to the method described in subsection (b)(2).
As added by P.L.140-1990, SEC.1.

IC 24-4.6-1-201
Law applicable to consumer credit sales or leases
    Sec. 201. IC 24-5-2-21 through IC 24-5-2-24 apply to consumercredit sales, consumer leases, and assignees thereof.
(Formerly: Acts 1974, P.L.115, SEC.2.) As amended by P.L.10-2006,SEC.21 and P.L.57-2006, SEC.21.

IC 24-4.6-1-202
Applicability of IC 24-5-6 to sales at residence of consumer
    Sec. 202. The provisions of IC 24-5-6 (repealed) concerning salesat the residence of a consumer shall not apply to consumer creditsales or consumer leases but shall apply to all other sales at theresidence of a consumer.
(Formerly: Acts 1974, P.L.115, SEC.2.) As amended by P.L.1-2010,SEC.98.