Fillable Printable Form 0008
Fillable Printable Form 0008
Form 0008
NOTICE OF INTENT
UNIFORM CONSUMER CREDIT CODE
State Form 83 (R7 / 12-15) / IUCCC Form 1
INDIANA DEPARTMENT OF FINANCIAL INSTITUTIONS
INSTUCTIONS: 1. Mail notice of intent to the above address.
2. Out-of state companies granting consumer credit to Indiana consumers
are required to file under the IUCCC if:
a. They have an Indiana location or solicit Indiana customer by any means.
b. The sale of lease is closed in Indiana by their agent.
c. If assignments are taken or direct collections are undertaken in Indiana
on sales or leases.
3. You may contact the Indiana Department of Financial Institutions by telephone,
fax, e-mail, or web site as above
DFI OFFICE USE ONLY
DFI ID # _____________________
LIC ID # _____________________
The undersigned files this Notice of Intent to make, assign, or purchase consumer sales or consumer leases in the
State of Indiana.
Name of company Doing Business As (DBA)
Principal address (number and street) City, state, and ZIP code County
Business telephone number
( )
Fax number
( )
E-mail address
Which type of business best fits you:
Buy-here-pay-here Seller credit card / Open end credit Seller Seller / Assignor Lessor Purchase / Assignee
Describe type of business you are engaged in (i.e. used automobiles dealer, computers, carpet, etc.).
Complete address of all Indiana branch location(s) engaged in consumer credit transactions. (Attach additional sheets if necessary.)
Street address City, state, and ZIP code County Telephone number
1.( )
2.( )
3.( )
4.
( )
5.
( )
6.
( )
7.
( )
8.
( )
9.
( )
10.
( )
11.
( )
12.
( )
SignatureDate signed (month, day, year)
Type or clearly print name (Refer to explanation on reverse side.) Title (Owner, partner, or president as applicable)
DEPARTMENT OF FINANCIAL INSTITUTIONS
30 South Meridian Street, Suite 300
Indianapolis, IN 46204
Telephone: (317) 232-3955 or (800) 382-4880
Fax: (317) 232-7655
E-mail: [email protected]
Web site: //www.in.gov/dfi
Reset Form
IC 24-4.5-6-201; 6-202; 6-203
Persons subject to filing shall file notification with the Department within thirty (30) days after commencing business in
Indiana and thereafter, on or before January 31 of each year.
Consumer credit sales are sales of goods, services, or an interest in land in which the credit is granted by a person who regularly
engages as
a seller in credit transactions. The goods, services, or interest in land are purchased primarily for a personal, family, or
household purpose,
either the debt is by written agreement payable in more than four (4) installments or a credit service charge is made.
With respect to a sale of
goods or services, either the amount financed does not exceed the applicable exempt threshold amount
specified in Regulation Z [12 CFR
1026.3(b)] or the debt is secured by personal property used or expected to be used as the principal
dwelling of the buyer.
Consumer leases to be reported are those in which the amount payable under the lease does not exceed the applicable exempt
threshold amount specified in Regulation M [12 CFR 1013.2(e)] and which is for a contractual term exceeding four (4) months. Consumer
leases do not include "Rent-to-own" transactions. Persons engaging in rent-to-own transactions must file with the Department of
Financial Institutions under the Rental Purchase Agreement Act. (IC 24-7)
Seller credit cards or open end credit means an arrangement which gives to a buyer or lessee the privilege of using a credit card, letter
of
credit, or other credit confirmation or identification for the purpose of purchasing or leasing goods or services from that person, a
person related
to that person, or from that person and any other person. These are reportable if you are the "Creditor" in the transaction
as defined in IC 24-4.5-1-301(11).
NOTE: If you are regularly engaged as the "creditor" in making consumer LOANS in Indiana, other than first lien
mortgages, you need to apply for a consumer loan license with this department.
A bank who has their principal place of business in Indiana or a branch as defined in IC 28-2-17-6 must comply
with the provisions of IC 28-2-17-23(f) and IC 24-4.5-6-201 through 6-203. These sections require the reporting of
consumer credit volume excluding first lien mortgages. Contact the DFI for further details.
ASSIGNMENTS
Pursuant to IC 24-4.5, an entity originating consumer credit, as defined, is required to pay, or ensure the payment of, a fee to the DFI
based
on the volume of credit initiated during the prior calendar year.
Your company may originate credit agreements and assign that credit to another company. If the assignee company pays the fee
associated
with that credit, you do not need to pay the fee.
It is the responsibility of your company to determine conclusively that the assignee company pays the appropriate volume fee associated
with
credit your company assigns.
If your company accepts the assignment of credit agreements
from an initiating entity and your company agrees to pay the volume fee
associated with the assigned credit, this volume should be reflected in your company's volume total. Even though your company may
agree to
pay the volume fee associated with assigned credit it accepts, your company should ensure that the originator of the credit
is registered
withthe DFI.
FEES
There are no initial fees to file notification with the Department. The annual notification requires disclosure of the original unpaid balances
arising from consumer credit sales or consumer leases originating from the person's business during the calendar year preceding the
notification, unless the fees for the obligation have been paid by another person, individual, or organization. There are no fees due if the
total
original unpaid balances reported are $100,000 or less. The volume reported over $100,000 is subject to a fee set by the
Department for
each $100,000 or part there-of.
EXCLUSIONS
NOTE: See IC 24-4.5-1-202 for additional information regarding exclusions.
1.
Credit primarily for a business, commercial, or an agricultural purpose.
2.
FIRST lien mortgages and contracts which involve land.
3.
Consumer credit transactions in excess of the applicable exempt threshold amount not secured by an interest in land or personal
property used as
principal dwelling of the debtor.
4. Extensions of credit to government or governmental agencies or instrumentality.
5. If you are not deemed "regularly engaged." Regularly engaged means you transact more than five (5) mortgages or dwelling
secured
transactions, or more than twenty-five (25) other consumer credit transactions in a year.See IC 24-4.5-1-301.
SIGNATURE
The individual that will receive and complete the annual report of consumer credit volume shall sign the Notice of Intent. If mailing
address of
individual is different from principal address, please indicate correct mailing address. If necessary, attach an additional sheet.
