Section 12-906 - Plan authorizing both loans and purchases.
§ 12-906. Plan authorizing both loans and purchases.
(a) Different terms for loan or purchase indebtedness.- If the agreement governing a revolving credit plan permitting the borrower to obtain both loans and purchases so provides, a credit grantor may impose different terms on the indebtedness arising out of purchases than to the indebtedness arising out of loans.
(b) Application of subsection (a).- Subsection (a) of this section applies to all terms, including:
(1) The terms governing the periodic percentage rate used to calculate interest or finance charges;
(2) The method of computing the outstanding unpaid indebtedness to which the periodic percentage rate is applied;
(3) The amounts of other charges; and
(4) The applicable repayment schedule.
[1983, ch. 143.]