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Indiana Code Title 23. Business and Other Associations § 23-2.5-8-1

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 1. (a) A contract for the services of a loan broker is not enforceable unless the contract is in writing and signed by each of the contracting parties.

(b) At the time a contract for the services of a loan broker is signed, the loan broker shall provide the following to each party to the contract:

(1) A copy of the signed contract.

(2) A written disclosure of any agreement entered into by the loan broker to procure loans exclusively from one (1) lender.

(c) A contract for the services of a loan broker must include the following statement:

“No statement or representation by a loan broker is valid or enforceable unless the statement or representation is in writing.”.

(d) This section does not apply to a contract that provides for the payment of referral fees by a lender or a third party.

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Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-2.5-8-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-2-5-8-1/

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