Section 24-7-2-3.5 - "Initial rental payment" "Initial rental payment" means any up-front payment:
(1) that is made by a lessee to a lessor, or to an agent acting on behalf of a lessor, for property under a rental purchase agreement;(2) that includes a rental payment that permits the lessee's use of the property for the initial rental period;(3) that may be in an amount that is larger than a regular rental payment due under the rental purchase agreement; and(4) that may include one (1) or more of the following: (A) An amount intended to be paid toward the rental or ownership of the property that is the subject of the rental purchase agreement.(B) Additional charges permitted under IC 24-7-5, including any of the following: (i) A nonrefundable processing fee or a delivery charge.(ii) Sales and use taxes.(iv) An optional liability waiver fee for the initial rental period.Added by P.L. 176-2019,SEC. 29, eff. 7/1/2019.