HB 1581 Indiana House · 2023 Regular Session

Business associations.

Summary
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.
Bill status signed all 5 stages cleared
Introduction
Jan 2023
Committee Review
Apr 2023
House Passage
Apr 2023
Senate Passage
Apr 2023
Signed into Law
May 2023
Introduced Jan 19, 2023 Signed May 1, 2023
Floor votes · Senate Apr 18, 2023

How they voted

480
Passed
Total votes 48
Apr 18, 2023
D Democratic10
10 Yea
100% Yea
R Republican38
38 Yea
100% Yea
Vote distribution
All Yea All Nay Mixed No data
Full legislative history

Actions timeline

Total actions
19
Key actions
9
Committee
3
May 1, 2023
Signed into law
Signed by the Governor
executive
Apr 26, 2023
Upper · Passed
Signed by the President of the Senate
upper
Apr 25, 2023
Upper · Passed
Signed by the President Pro Tempore
upper
Apr 24, 2023
Lower · Passed
Signed by the Speaker
lower
Apr 18, 2023
Upper · Passed
Third reading: passed; Roll Call 449: yeas 50, nays 0
upper
Apr 13, 2023
Upper · Passed
Committee report: do pass, adopted
upper
Mar 16, 2023
Upper · Passed
Committee report: do pass adopted; reassigned to Committee on Appropriations
upper
Feb 9, 2023
Lower · Passed
Third reading: passed; Roll Call 96: yeas 93, nays 0
lower
Feb 2, 2023
Lower · Passed
Committee report: amend do pass, adopted
lower
2 primary · 1 co-sponsor

Sponsors