Ind. Code § 26-2-9-4

Current through P.L. 171-2024

Section 26-2-9-4 - Claims and defenses arising from credit agreements; writing required

(a) A debtor may assert:

(1) a claim for legal or equitable relief; or

(2) a defense to a claim;

arising from a credit agreement only if the credit agreement at issue satisfies 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 credit agreement, including the loan amount, rate of interest, duration, and security; and

(3) is signed by the creditor and the debtor.

IC 26-2-9-4

Pre-2002 Title 32 Recodification Citation: 32-2-1.5-4.

Amended by P.L. 76-2011, SEC. 2, eff. 7/1/2011.

As added by P.L. 2-2002, SEC.79. Amended by P.L. 10-2006, SEC.26 and P.L. 57-2006, SEC.26.