I need to find the Indiana law concerning usury rates. I recently began working in Indiana after working in Kentucky for 20+ years. I know in Kentucky the usury rate is based on the loan rate and not the APR. I read in a thread recently that Indiana's is based on the APR but can't find it in the Indiana code. Help!

The IN code refers to a per annum rate. I just spoke with Mark Tarpey of the DFI on 9/24 to verify that IN bases their usury on the APR and not the input rate. His phone # is 317-232-3955.

You can charge a 2% origination fee, up to a maximum of $40, and this fee is calculated in the APR but does not go against the usury, however you have to base every thing on a 21% APR if you use this option.