Section 28-15-11-1 - "Adjustable mortgage loan"As used in this chapter, "adjustable mortgage loan" means a loan:
(1) whose terms permit adjustments to the interest rate that:(A) reflect the movement of the money cost index; and(B) are implemented through changes in the monthly payment amounts, adjustments to the outstanding principal loan balance, or changes in the loan term; and(2) whose term does not exceed forty (40) years.As added by P.L. 193-1997, SEC.2.