Ind. Code § 37-2-2-5
"Average daily balance"
Indiana · Indiana Code Title 37 — Consumer Lending · Status: effective
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- Citation
- Ind. Code § 37-2-2-5, "Average daily balance", Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1689396
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Full text
Sec. 5. "Average daily balance" means the sum of each of the daily balances in a billing cycle divided by the number of days in the billing cycle, and if the billing cycle is a month, the creditor may elect to treat the number of days in each billing cycle as thirty (30).