CHAPTER 4. COGNOVIT NOTE PROHIBITED AS A MEANS OF CONFESSING JUDGMENT OR AUTHORIZING PAYMENT

IC 34-54-4

    

Chapter 4. Cognovit Note Prohibited as a Means of Confessing
Judgment or Authorizing Payment

IC 34-54-4-1

Violations

    

Sec. 1. A person who knowingly:

        (1) procures another to:

            (A) execute as maker; or

            (B) endorse or assign;

        a cognovit note;

        (2) being the payee, endorsee, or assignee of the cognovit note,
retains possession of the cognovit note; or

        (3) attempts to recover upon or enforce within Indiana a
judgment obtained in any other jurisdiction based upon a
cognovit note;

commits a Class B misdemeanor.

As added by P.L.1-1998, SEC.50.