HB 1581 IN

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Became Law

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.

• Robert Heaton Republican · author
• Travis Holdman Republican · sponsor

1. Jan 19, 2023 Authored by Representative Heaton · lower
2. Jan 19, 2023 First reading: referred to Committee on Financial Institutions · lower
3. Feb 2, 2023 Representative McGuire J added as coauthor · lower
4. Feb 2, 2023 Committee report: amend do pass, adopted · lower
5. Feb 6, 2023 Second reading: ordered engrossed · lower
6. Feb 9, 2023 Third reading: passed; Roll Call 96: yeas 93, nays 0 · lower
7. Feb 9, 2023 Senate sponsor: Senator Holdman · lower
8. Feb 10, 2023 Referred to the Senate · lower
9. Feb 27, 2023 First reading: referred to Committee on Judiciary · upper
10. Mar 16, 2023 Committee report: do pass adopted; reassigned to Committee on Appropriations · upper
11. Apr 13, 2023 Committee report: do pass, adopted · upper
12. Apr 17, 2023 Second reading: ordered engrossed · upper
13. Apr 18, 2023 Third reading: passed; Roll Call 449: yeas 50, nays 0 · upper
14. Apr 19, 2023 Returned to the House without amendments · upper
15. Apr 24, 2023 Signed by the Speaker · lower
16. Apr 25, 2023 Signed by the President Pro Tempore · upper
17. Apr 26, 2023 Signed by the President of the Senate · upper
18. May 1, 2023 Signed by the Governor · executive
19. May 1, 2023 Public Law 156 · lower

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 House Bill (H) · Apr 19, 2023 · PDF
• Introduced House Bill (H) · Jan 19, 2023 · PDF
• House Bill (H) · Feb 2, 2023 · PDF
• House Bill (S) · Mar 16, 2023 · PDF
• House Bill (S) · Apr 13, 2023 · PDF