CHAPTER 9. CREDIT AGREEMENTS

IC 26-2-9
    Chapter 9. Credit Agreements

IC 26-2-9-1
"Credit agreement"
    Sec. 1. (a) As used in this chapter, "credit agreement" means anagreement to:
        (1) lend or forbear repayment of money, goods, or things inaction;
        (2) otherwise extend credit; or
        (3) make any other financial accommodation.
    (b) The term includes an agreement to modify an agreementdescribed in subsection (a).
As added by P.L.2-2002, SEC.79. Amended by P.L.10-2006, SEC.25and P.L.57-2006, SEC.25.

IC 26-2-9-2
"Creditor"
    Sec. 2. As used in this chapter, "creditor" means:
        (1) a bank, a savings bank, a trust company, a savingsassociation, a credit union, an industrial loan and investmentcompany, or any other financial institution regulated by anyagency of the United States or any state, including a consumerfinance institution licensed to make supervised or regulatedloans under IC 24-4.5;
        (2) a person authorized to sell and service loans for the FederalNational Mortgage Association or the Federal Home LoanMortgage Corporation, issue securities backed by theGovernment National Mortgage Association, make loansinsured by the United States Department of Housing and UrbanDevelopment, make loans guaranteed by the United StatesDepartment of Veterans Affairs, or act as a correspondent ofloans insured by the United States Department of Housing andUrban Development or guaranteed by the United StatesDepartment of Veterans Affairs; or
        (3) an insurance company or its affiliates that extend creditunder a credit agreement with a debtor.
As added by P.L.2-2002, SEC.79.

IC 26-2-9-3
"Debtor"
    Sec. 3. As used in this chapter, "debtor" means a person who:
        (1) obtains credit under a credit agreement with a creditor;
        (2) seeks a credit agreement with a creditor; or
        (3) owes money to a creditor.
As added by P.L.2-2002, SEC.79.

IC 26-2-9-4
Claims and defenses arising from credit agreements; writingrequired    Sec. 4. (a) A debtor may assert:
        (1) a claim for legal or equitable relief; or
        (2) a defense in a claim;
arising from a credit agreement only if the credit agreement at issuesatisfies the requirements set forth in subsection (b).
    (b) A debtor may assert a claim or defense under subsection (a)only if the credit agreement at issue:
        (1) is in writing;
        (2) sets forth all material terms and conditions of the creditagreement, including the loan amount, rate of interest, duration,and security; and
        (3) is signed by the creditor and the debtor.
As added by P.L.2-2002, SEC.79. Amended by P.L.10-2006, SEC.26and P.L.57-2006, SEC.26.

IC 26-2-9-5
Debtor action against creditor; agreement requirements
    Sec. 5. A debtor may bring an action upon an agreement with acreditor to enter into a new credit agreement, amend or modify aprior credit agreement, forbear from exercising rights under a priorcredit agreement, or grant an extension under a prior creditagreement only if the agreement:
        (1) is in writing;
        (2) sets forth all the material terms and conditions of theagreement; and
        (3) is signed by the creditor and the debtor.
As added by P.L.2-2002, SEC.79.