*EH1284.2*
Reprinted
February 20, 2024
ENGROSSED
HOUSE BILL No. 1284
_____
DIGEST OF HB 1284 (Updated February 19, 2024 3:11 pm - DI 154)
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
(SENATE SPONSORS — GASKILL, ALEXANDER, BALDWIN,
WALKER K)
January 9, 2024, read first time and referred to Committee on Financial Institutions.
January 25, 2024, reported — Do Pass.
January 29, 2024, read second time, ordered engrossed.
January 30, 2024, engrossed. Read third time, passed. Yeas 91, nays 4.
SENATE ACTION
February 7, 2024, read first time and referred to Committee on Insurance and Financial
Institutions.
February 15, 2024, reported favorably — Do Pass.
February 19, 2024, read second time, amended, ordered engrossed.
EH 1284—LS 6896/DI 101 Reprinted
February 20, 2024
Second Regular Session of the 123rd General Assembly (2024)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2023 Regular Session of the General Assembly.
ENGROSSED
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. As used in this chapter, "written notice" means a notice
17 that is:
EH 1284—LS 6896/DI 101 2
1 (1) in writing;
2 (2) provided to the depositor in any manner in which the
3 depositor has agreed to receive notices from the depository
4 financial institution; and
5 (3) sent at least thirty (30) calendar days before the effective
6 date of any change or amendment to the deposit account
7 agreement described in the notice.
8 Sec. 6. A deposit account agreement may be changed or
9 amended from time to time, subject to the terms of the deposit
10 account agreement. A depositor's continued maintenance of a
11 deposit account after the effective date of any change or
12 amendment to the deposit account agreement, as described in a
13 written notice provided by the depository financial institution to
14 the depositor, constitutes prima facie evidence of the depositor's
15 intent to accept the change or amendment for which notice was
16 provided.
EH 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
_____
COMMITTEE REPORT
Madam President: The Senate Committee on Insurance and
Financial Institutions, to which was referred House Bill No. 1284, has
had the same under consideration and begs leave to report the same
back to the Senate with the recommendation that said bill DO PASS.
(Reference is to HB 1284 as printed January 25, 2024.)
BALDWIN, Chairperson
Committee Vote: Yeas 6, Nays 3
_____
SENATE MOTION
Madam President: I move that Engrossed House Bill 1284 be
amended to read as follows:
Page 1, between lines 15 and 16, begin a new paragraph and insert:
"Sec. 5. As used in this chapter, "written notice" means a notice
that is:
(1) in writing;
(2) provided to the depositor in any manner in which the
depositor has agreed to receive notices from the depository
financial institution; and
(3) sent at least thirty (30) calendar days before the effective
date of any change or amendment to the deposit account
agreement described in the notice.".
Page 1, line 16, delete "Sec. 5." and insert "Sec. 6.".
(Reference is to EHB 1284 as printed February 16, 2024.)
GASKILL
EH 1284—LS 6896/DI 101