*HB1284.1*
January 25, 2024
HOUSE BILL No. 1284
_____
DIGEST OF HB 1284 (Updated January 25, 2024 9:49 am - DI 140)
Citations Affected: IC 28-1.
Synopsis: Deposit account agreements. Provides that a deposit
account agreement between a depository financial institution and a
depositor may be changed or amended from time to time, subject to the
terms of the deposit account agreement. Provides that a depositor's
continued maintenance of a deposit account after the effective date of
any change or amendment to the deposit account agreement, as
described in a written notice from the depository financial institution,
constitutes prima facie evidence of the depositor's intent to accept the
change or amendment.
Effective: July 1, 2024.
Pierce K, Speedy, Teshka
January 9, 2024, read first time and referred to Committee on Financial Institutions.
January 25, 2024, reported — Do Pass.
HB 1284—LS 6896/DI 101 January 25, 2024
Second Regular Session of the 123rd General Assembly (2024)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
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a new provision to the Indiana Code or the Indiana Constitution.
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between statutes enacted by the 2023 Regular Session of the General Assembly.
HOUSE BILL No. 1284
A BILL FOR AN ACT to amend the Indiana Code concerning
financial institutions.
Be it enacted by the General Assembly of the State of Indiana:
1 SECTION 1. IC 28-1-20.1 IS ADDED TO THE INDIANA CODE
2 AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE
3 JULY 1, 2024]:
4 Chapter 20.1. Deposit Account Agreements
5 Sec. 1. As used in this chapter, "deposit account" has the
6 meaning set forth in IC 28-9-2-5.
7 Sec. 2. As used in this chapter, "deposit account agreement"
8 means an agreement that:
9 (1) is between a depository financial institution and a
10 depositor; and
11 (2) governs a deposit account.
12 Sec. 3. As used in this chapter, "depositor" has the meaning set
13 forth in IC 28-9-2-4.
14 Sec. 4. As used in this chapter, "depository financial institution"
15 has the meaning set forth in IC 28-9-2-6.
16 Sec. 5. A deposit account agreement may be changed or
17 amended from time to time, subject to the terms of the deposit
HB 1284—LS 6896/DI 101 2
1 account agreement. A depositor's continued maintenance of a
2 deposit account after the effective date of any change or
3 amendment to the deposit account agreement, as described in a
4 written notice provided by the depository financial institution to
5 the depositor, constitutes prima facie evidence of the depositor's
6 intent to accept the change or amendment for which notice was
7 provided.
HB 1284—LS 6896/DI 101 3
COMMITTEE REPORT
Mr. Speaker: Your Committee on Financial Institutions, to which
was referred House Bill 1284, has had the same under consideration
and begs leave to report the same back to the House with the
recommendation that said bill do pass.
(Reference is to HB 1284 as introduced.)
SPEEDY
Committee Vote: Yeas 13, Nays 0
HB 1284—LS 6896/DI 101