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.
‹ Prev All Indiana sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.