Indiana House Bill 1581 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Republican 3-0)
Status: Passed on May 1 2023 - 100% progression
Action: 2023-05-01 - Public Law 156
Text: Latest bill text (Enrolled) [PDF]

Business associations. Provides that the definitions for the uniform business organizations code apply to agricultural cooperatives. Removes the requirement that articles of incorporation for agricultural cooperatives must be acknowledged by at least one incorporator before a notary public. Provides that the uniform business transactions act applies to agricultural cooperatives for certain purposes. Adds business trusts and agricultural cooperatives to lists of entities that the secretary of state may revoke registrations for or dissolve. Makes conforming changes. Amends the statute concerning the securities restitution fund (fund) as follows: (1) Provides that 2% of funds received from fees and revenues from the administration of the Indiana Uniform Securities Act must be deposited in the fund instead of the state general fund. (2) Provides that any amount of the balance of the fund at the end of a particular state fiscal year that exceeds $2,000,000 reverts to the state general fund. (3) Provides that to ensure the financial viability of the fund, the securities commissioner may: (A) divide into installments; (B) delay; or (C) divide into installments and delay; any payments owed to claimants.

Business associations.

Rep. Robert Heaton [R]

Rep. Julie McGuire [R]

Sen. Travis Holdman [R]

2023-04-18 - Senate - Senate - Third reading (Y: 50 N: 0 NV: 0 Abs: 0) [PASS]
2023-02-09 - House - House - Third reading (Y: 93 N: 0 NV: 1 Abs: 6) [PASS]

Date	Chamber	Action
2023-05-01	House	Public Law 156
2023-05-01	House	Signed by the Governor
2023-04-26	Senate	Signed by the President of the Senate
2023-04-25	Senate	Signed by the President Pro Tempore
2023-04-24	House	Signed by the Speaker
2023-04-19	Senate	Returned to the House without amendments
2023-04-18	Senate	Third reading: passed; Roll Call 449: yeas 50, nays 0
2023-04-17	Senate	Second reading: ordered engrossed
2023-04-13	Senate	Committee report: do pass, adopted
2023-03-16	Senate	Committee report: do pass adopted; reassigned to Committee on Appropriations
2023-02-27	Senate	First reading: referred to Committee on Judiciary
2023-02-10	House	Referred to the Senate
2023-02-09	House	Senate sponsor: Senator Holdman
2023-02-09	House	Third reading: passed; Roll Call 96: yeas 93, nays 0
2023-02-06	House	Second reading: ordered engrossed
2023-02-02	House	Committee report: amend do pass, adopted
2023-02-02	House	Representative McGuire J added as coauthor
2023-01-19	House	First reading: referred to Committee on Financial Institutions
2023-01-19	House	Authored by Representative Heaton

Type	Source
Summary	https://iga.in.gov/legislative/2023/bills/house/1581/details
Text	https://iga.in.gov/legislative/2023/bills/house/1581/#1.INTR
Text	https://iga.in.gov/legislative/2023/bills/house/1581/#2.COMH
Text	https://iga.in.gov/legislative/2023/bills/house/1581/#3.COMS
Text	https://iga.in.gov/legislative/2023/bills/house/1581/#4.COMS
Text	https://iga.in.gov/legislative/2023/bills/house/1581/#5.ENRS
Roll Call	https://iga.in.gov/legislative/2023/bills/house/1581/#H96
Roll Call	https://iga.in.gov/legislative/2023/bills/house/1581/#S449