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Introduced House Bill (H)

DIGEST

Territorial application of the UCCC. Amends the provision in the Uniform Consumer Credit Code (UCCC) concerning the territorial application of the UCCC to provide that a sale, lease, or loan transaction occurs in Indiana if the creditor, a person acting on behalf of the creditor, or an assignee of the creditor's rights under the transaction has advertised, solicited, offered, made, brokered, arranged, or guaranteed sales, leases, or loans in Indiana by any means, regardless of whether the creditor, the person acting on behalf of the creditor, or the assignee of the creditor has a physical location in Indiana. (Existing law Territorial application of the UCCC. Amends the provision in the Uniform Consumer Credit Code (UCCC) concerning the territorial application of the UCCC to provide that a sale, lease, or loan transaction occurs in Indiana if the creditor, a person acting on behalf of the creditor, or an assignee of the creditor's rights under the transaction has advertised, solicited, offered, made, brokered, arranged, or guaranteed sales, leases, or loans in Indiana by any means, regardless of whether the creditor, the person acting on behalf of the creditor, or the assignee of the creditor has a physical location in Indiana. (Existing law does not: (1) include the offering, making, brokering, arranging, or guaranteeing of a consumer sale, lease, or loan transaction in Indiana as among the specified actions that qualify a consumer sale, lease, or loan transaction as occurring in Indiana; (2) specify that a sale, lease, or loan transaction occurs in Indiana if the assignee of a creditor's rights under the transaction takes the specified actions in Indiana; or (3) specify that the creditor, a person acting on behalf of the creditor, or an assignee of the creditor need not have a physical location in Indiana for a consumer sale, lease, or loan to be considered to occur in Indiana.) ... View more