IN SB0468 | 2023 | Regular Session


Spectrum: Slight Partisan Bill (Republican 9-3)
Status: Engrossed on February 10 2023 - 50% progression
Action: 2023-03-20 - Representative Judy added as cosponsor
Pending: House Financial Institutions Committee
Hearing: Mar 30 @ 9:00 am in Room 156-A
Text: Latest bill text (Engrossed) [PDF]


Uniform Commercial Code amendments. Incorporates into Indiana's Uniform Commercial Code (UCC) the Amendments to the Uniform Commercial Code (2022) approved and recommended for enactment in all states by the Uniform Law Commission (ULC) to address emerging technologies. Makes conforming amendments to general provisions and definitions that apply throughout the UCC. Makes conforming amendments to chapters of the UCC governing the following: (1) Sales. (2) Leases. (3) Negotiable instruments. (4) Fund transfers. (5) Letters of credit. (6) Documents of title. (7) Investment securities. (8) Secured transactions. Repeals the chapter in the UCC governing controllable electronic records. Establishes a new chapter in the UCC that: (1) governs controllable electronic records; and (2) incorporates the provisions of the ULC's amendments governing controllable electronic records. Establishes a new chapter in the UCC that: (1) addresses the validity, enforceability, and perfection of certain commercial transactions, including secured transactions, entered into before the effective date of the amendments on July 1, 2023; and (2) establishes July 1, 2025, as an "adjustment date" on or after which certain transactions must conform to the requirements of the amendments to remain valid, enforceable, or perfected. Adds language to incorporate into Indiana's UCC the Amendments to Uniform Commercial Code Article 9 (2018), as approved by the American Law Institute and the National Conference of Commissioners of Uniform State Laws. Provides, through the incorporation of these amendments, that the provisions in the UCC providing that restrictions on the transfer of property pledged as collateral are ineffective do not apply in the case of a security interest in an ownership interest in a general partnership, limited partnership, or limited liability company.

Tracking Information

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Uniform Commercial Code amendments.


Roll Calls

2023-02-09 - Senate - Senate - Third reading (Y: 48 N: 1 NV: 0 Abs: 1) [PASS]


2023-03-20HouseRepresentative Judy added as cosponsor
2023-02-28HouseFirst reading: referred to Committee on Financial Institutions
2023-02-10SenateReferred to the House
2023-02-09SenateCosponsor: Representative Steuerwald
2023-02-09SenateHouse sponsor: Representative Jeter
2023-02-09SenateThird reading: passed; Roll Call 95: yeas 48, nays 1
2023-02-07SenateSecond reading: amended, ordered engrossed
2023-02-07SenateAmendment #1 (Young M) prevailed; voice vote
2023-02-02SenateCommittee report: amend do pass, adopted
2023-01-31SenateSenator Randolph added as coauthor
2023-01-30SenateSenator Glick added as coauthor
2023-01-23SenateSenator Freeman added as coauthor
2023-01-23SenateSenators Charbonneau, Brown L, Pol added as coauthors
2023-01-19SenateFirst reading: referred to Committee on Judiciary
2023-01-19SenateAuthored by Senators Garten, Koch, Taylor G


Indiana State Sources

Bill Comments