IC 9-23-2.5-4 “Lease agreement” defines article 4. As used in this Chapter, “lease” means a written agreement entered into in Indiana regarding the transfer of the right to own and use a motor vehicle from a retail distributor for a period of more than four (4) months for remuneration, whether the retailer has the opportunity to purchase the vehicle upon expiration of the contract or otherwise become the owner of the car. The term does not include an agreement covering an absolute sale, a sale with authorized authorization or a tempered sale in the retail trade. As added by P.L.86-1996, SEC.8. At the end of the rental of the vehicle, the renter returns the vehicle to the owner or, if the option is given, he accepts the purchase of the vehicle. If the renter chooses to purchase the vehicle, his rents are charged to the total purchase price. IC 9-23-2.5-13 The bona fide printing error is not considered a violation of article 13. A good faith printing error found on the front of the lease does not constitute a violation of this chapter. As added by P.L.86-1996, SEC.8. This is a legal form that has been released by the Indiana Department of Revenue, a government agency operating in Indiana.

To date, the issuing service has not provided separate registration guidelines for the form. IC 9-23-2.5-9 Exchange vehicle § 9. A payment vehicle used in whole or in part to pay amounts due at the time of signing or delivery of the vehicle must be identified in the lease as a payment vehicle and identified by year, make and model. The lease agreement must indicate the net credit of the vehicle for payment purposes that pays the sums due at the time of signing or delivery of the vehicle. As added by P.L.86-1996, SEC.8. Amended by P.L.74-1998, SEC.2. IC 9-23-2.5-10 Appeal § 10. (a) A retail lessee who does not meet the requirements of this chapter shall be held liable to the retail lessee for the damage actually suffered; (2) a civil fine not exceeding one thousand dollars (USD 1,000) per leasing transaction; and (3) reasonable attorneys` fees and expenses. (b) In addition to all other remedies provided by law, a retailer may bring an action in the District Court to recover the damages, penalties and fees described in subsection (a). (c) The full recovery of damages, penalties and costs in the case of an imitation of this section shall not exceed one hundred thousand dollars ($100,000). As added by P.L.86-1996, SEC.8. 213) on the disclosure of the gross cost activated, the reduction of activated costs and the activated acquisition cost adjusted in accordance with the Federal Truth Act in Lending Act (15 U.S.C.

1601 et seed). (2) Communicate to a retail tenant in a separate section blocked in a capitalized lease agreement of at least 10 points in bold: IC 9-23-2.5-3 “Cost reduction enabled” defines section 3. As used in this Chapter, `activated cost reduction` means payment by cash, cheque, credit card, net vehicle deposit, discount or other similar means, in the form of a deposit or credit made by a retailer at the beginning of a lease for the purpose of reducing activated costs, and does not include regular payments received by the tenant at the beginning of the lease agreement…