Definition: 'Loan' — 'Loan' includes(1) the creation of debt by the lender's payment of or agreement to pay money to the debtor or to a third party for the account of the debtor;(2) the creation of debt by a credit to an account with the lender upon which the debtor is entitled to draw immediately;(3) the creation of debt pursuant to a lender credit card or similar arrangement; and(4) the forbearance of debt arising from a loan.Formerly: Acts 1971, P.L.366, SEC.4.
Indiana Legal Code