Indiana 2023 Regular Session Status: Enacted 3 R cosponsors

HB 1581 — Business associations.

Last action — Public Law 156

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed House
  4. ✓
    Passed Senate
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced January 19, 2023. Enacted.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

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A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 76% · moderate confidence

  • Enacted

    Current position in the legislative process.

  • 3 sponsors

    2 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (3 R).

  • Cleared a recorded vote

    Passed 1 recorded vote so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

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 Text

We don't have the full text on file for this bill yet.

Read HB 1581 on the official Indiana source →

Action History

  1. Public Law 156

  2. Signed by the Governor

  3. Signed by the President of the Senate

  4. Signed by the President Pro Tempore

  5. Signed by the Speaker

  6. Returned to the House without amendments

  7. Third reading: passed; Roll Call 449: yeas 50, nays 0

  8. Second reading: ordered engrossed

  9. Committee report: do pass, adopted

  10. Committee report: do pass adopted; reassigned to Committee on Appropriations

  11. First reading: referred to Committee on Judiciary

  12. Referred to the Senate

  13. Senate sponsor: Senator Holdman

  14. Third reading: passed; Roll Call 96: yeas 93, nays 0

  15. Second reading: ordered engrossed

  16. Committee report: amend do pass, adopted

  17. Representative McGuire J added as coauthor

  18. First reading: referred to Committee on Financial Institutions

  19. Authored by Representative Heaton

Sponsors

Sponsorship breakdown

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2 sponsors · 1 co-sponsors · 147 not signed on

Sponsors (2)

Co-sponsors (1)

Not signed on (147)

147 members have not signed on to this bill.

Show all 147 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

HB 1581 - Holdman - 3rd Reading

Passed 50 Yea · 0 Nay
Party YeaNayPresentNot Voting
Republican 33000
Unaffiliated 9000
Democrat 8000
Total 50000
% of votes cast 100%0%0%0%
How each member voted (50)
Member Party Vote
Crane — Yea
Johnson — Yea
Sandlin — Yea
Melton — Yea
Messmer — Yea
Breaux — Yea
Perfect — Yea
Zay — Yea
Ford Jon — Yea
Andrea Hunley Democrat Yea
David Niezgodski Democrat Yea
Fady Qaddoura Democrat Yea
Greg Taylor Democrat Yea
J.D. Ford Democrat Yea
Lonnie Randolph Democrat Yea
Rodney Pol Democrat Yea
Shelli Yoder Democrat Yea
Aaron Freeman Republican Yea
Blake Doriot Republican Yea
Brian Buchanan Republican Yea
Chris Garten Republican Yea
Dan Dernulc Republican Yea
Ed Charbonneau Republican Yea
Eric Bassler Republican Yea
Eric Koch Republican Yea
Gary Byrne Republican Yea
Greg Walker Republican Yea
James Buck Republican Yea
James Tomes Republican Yea
Jean Leising Republican Yea
Jeff Raatz Republican Yea
Justin Busch Republican Yea
Kyle Walker Republican Yea
Linda Rogers Republican Yea
Liz Brown Republican Yea
Michael Crider Republican Yea
Michael Young Republican Yea
Mike Bohacek Republican Yea
Mike Gaskill Republican Yea
Rick Niemeyer Republican Yea
Rodric Bray Republican Yea
Ron Alting Republican Yea
Ryan Mishler Republican Yea
Scott Alexander Republican Yea
Scott Baldwin Republican Yea
Spencer Deery Republican Yea
Stacey Donato Republican Yea
Susan Glick Republican Yea
Travis Holdman Republican Yea
Vaneta Becker Republican Yea

Official roll call →

Subjects

finance agriculture
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

What does HB 1581 do?
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.
Who sponsors HB 1581?
HB 1581 is sponsored by Travis Holdman (Republican), Julie McGuire (Republican), and Robert Heaton (Republican).
What is the current status of HB 1581?
This bill has been enacted into law. Introduced January 19, 2023. Enacted.
Where can I track HB 1581?
Track HB 1581 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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