Bill Text: IN HB1287 | 2010 | Regular Session | Introduced
Bill Title: Wage assignments.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Introduced - Dead) 2010-01-12 - First reading: referred to Committee on Rules and Legislative Procedures [HB1287 Detail]
Download: Indiana-2010-HB1287-Introduced.html
Citations Affected: IC 22-2-6-2.
Synopsis: Wage assignments. Permits a wage assignment for any
purpose described in a written agreement between an employee and an
employer.
Effective: July 1, 2010.
January 12, 2010, read first time and referred to Committee on Rules and Legislative
Procedures.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning labor
and safety.
(1) The assignment is:
(A) in writing;
(B) signed by the employee personally;
(C) by its terms revocable at any time by the employee upon written notice to the employer; and
(D) agreed to in writing by the employer.
(2) An executed copy of the assignment is delivered to the employer within ten (10) days after its execution.
(3) The assignment is made for a purpose described in subsection (b).
(b) A wage assignment under this section may be made for the purpose of paying any of the following:
(1) Premium on a policy of insurance obtained for the employee
by the employer.
(2) Pledge or contribution of the employee to a charitable or
nonprofit organization.
(3) Purchase price of bonds or securities, issued or guaranteed by
the United States.
(4) Purchase price of shares of stock, or fractional interests
therein, of the employing company, or of a company owning the
majority of the issued and outstanding stock of the employing
company, whether purchased from such company, in the open
market or otherwise. However, if such shares are to be purchased
on installments pursuant to a written purchase agreement, the
employee has the right under the purchase agreement at any time
before completing purchase of such shares to cancel said
agreement and to have repaid promptly the amount of all
installment payments which theretofore have been made.
(5) Dues to become owing by the employee to a labor
organization of which the employee is a member.
(6) Purchase price of merchandise sold by the employer to the
employee, at the written request of the employee.
(7) Amount of a loan made to the employee by the employer and
evidenced by a written instrument executed by the employee
subject to the amount limits set forth in section 4(c) of this
chapter.
(8) Contributions, assessments, or dues of the employee to a
hospital service or a surgical or medical expense plan or to an
employees' association, trust, or plan existing for the purpose of
paying pensions or other benefits to said employee or to others
designated by the employee.
(9) Payment to any credit union, nonprofit organizations, or
associations of employees of such employer organized under any
law of this state or of the United States.
(10) Payment to any person or organization regulated under the
Uniform Consumer Credit Code (IC 24-4.5) for deposit or credit
to the employee's account by electronic transfer or as otherwise
designated by the employee.
(11) Premiums on policies of insurance and annuities purchased
by the employee on the employee's life.
(12) The purchase price of shares or fractional interest in shares
in one (1) or more mutual funds.
(13) A judgment owed by the employee if the payment:
(A) is made in accordance with an agreement between the
employee and the creditor; and
(B) is not a garnishment under IC 34-25-3.
(14) Subject to any limitations imposed by federal or state law, payments for any purpose described in a written agreement between an employee and an employer.
