It shall be unlawful for any such agreement or agreements to provide for forfeiture and retention of payments upon any such agreement or series of agreements as and for liquidated damages for default of the agreement or series of agreements in excess of ten percent (10%) of the payments made or thirty-five dollars ($35), whichever sum is larger.Formerly: Acts 1963, c.303, s.6. As amended by P.L.136-2018, SEC.222.
Indiana Legal Code