Indiana Code Title 28. Financial Institutions § 28-7-5-28.5

Sec. 28.5.  (a) Except as provided in subsection (b), in addition to the loan finance charge authorized by section 28 of this chapter, a pawnbroker may charge, contract for, and receive a fee not to exceed one-fifth ( 1/5 ) of the principal amount of the loan per month or any fractional part of a month for servicing the pledge that may include investigating the title, storing, providing security, appraisal, handling, making daily reports to local law enforcement officers, and for other expenses and costs associated with servicing the pledge.  The fee for each month after the second month of the loan transaction is limited to one-thirtieth ( 1/30 ) of the monthly fee for each day the loan is outstanding.  Such a charge when made and collected is not interest and is not a rate under IC 35-45-7-1.

(b) If a loan is renewed or extended, the monthly fee authorized by subsection (a) accrues at a rate of one-thirtieth ( 1/30 ) of the monthly fee each day: