Bill Title: Retirement plan proceed loans. Defines a "retirement plan proceed loan" as a loan or an extension of credit that is: (1) offered to an Indiana consumer; and (2) secured by the consumer's interest in, or right to, all or part of the proceeds of any pension or other retirement plan of which the consumer is a participant, beneficiary, or member. Prohibits a person from: (1) making or offering to make a retirement plan proceed loan; (2) brokering or offering to broker a retirement plan proceed loan; or (3) advertising, marketing, or soliciting retirement plan proceed loans in Indiana. Provides that

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-01-20 - First Reading: referred to Committee on Insurance & Financial Institutions [SB0554 Detail]

Text: Latest bill text (Introduced) [PDF]

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