SB 351 IN

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Became Law

Adds a new chapter to the Uniform Commercial Code (UCC) that governs transactions involving controllable electronic records and that does the following: (1) Defines "controllable electronic records". (2) Establishes the following: (A) The extent to which a purchaser acquires rights and interests in controllable electronic records. (B) The circumstances under which a qualifying purchaser acquires rights in a controllable electronic record free of any adverse claim. (C) The conditions that must be satisfied for a person to be considered to have control over controllable electronic records. Amends certain sections in the UCC chapter concerning secured transactions to reference controllable electronic records and to provide for the perfection of a security interest in controllable electronic records by: (1) control; or (2) the filing of a financing statement. Amends the Indiana statute concerning unclaimed personal property to: (1) add a definition of "controllable electronic record" in that statute; and (2) authorize (rather than require, as specified in current law) the attorney general to adopt rules regarding virtual currency, controllable electronic records, and digital assets, to the extent such rules are consistent with, and not otherwise covered by: (A) the bill's provisions; or (B) any other Indiana law concerning virtual currency, controllable electronic records, or digital assets.

• Chris Garten Republican · author
• Justin Busch Republican · author
• Liz Brown Republican · author
• Jake Teshka Republican · sponsor

1. Jan 11, 2022 Authored by Senators Garten and Busch · upper
2. Jan 11, 2022 First reading: referred to Committee on Judiciary · upper
3. Jan 27, 2022 Committee report: amend do pass, adopted · upper
4. Jan 27, 2022 Senator Brown L added as third author · upper
5. Jan 27, 2022 Senator Koch added as coauthor · upper
6. Jan 31, 2022 Second reading: ordered engrossed · upper
7. Feb 1, 2022 Third reading: passed; Roll Call 178: yeas 49, nays 0 · upper
8. Feb 1, 2022 House sponsor: Representative Teshka · upper
9. Feb 1, 2022 Senator Melton added as coauthor · upper
10. Feb 2, 2022 Referred to the House · upper
11. Feb 8, 2022 First reading: referred to Committee on Judiciary · lower
12. Feb 17, 2022 Committee report: amend do pass, adopted · lower
13. Feb 21, 2022 Second reading: ordered engrossed · lower
14. Feb 22, 2022 Third reading: passed; Roll Call 242: yeas 92, nays 0 · lower
15. Feb 23, 2022 Returned to the Senate with amendments · lower
16. Feb 28, 2022 Motion to concur filed · upper
17. Mar 2, 2022 Senate concurred in House amendments; Roll Call 325: yeas 46, nays 0 · upper
18. Mar 7, 2022 Signed by the President Pro Tempore · upper
19. Mar 8, 2022 Signed by the Speaker · lower
20. Mar 14, 2022 Signed by the President of the Senate · upper
21. Mar 14, 2022 Signed by the Governor · executive
22. Mar 14, 2022 Public Law 110 · upper

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

• Enrolled Senate Bill (S) · Mar 2, 2022 · PDF
• Introduced Senate Bill (S) · Jan 10, 2022 · PDF
• Senate Bill (S) · Jan 27, 2022 · PDF
• Senate Bill (H) · Feb 17, 2022 · PDF