Introduced Version
HOUSE BILL No. 1441
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DIGEST OF INTRODUCED BILL
Citations Affected: IC 28-1; IC 34-30-2.1-440.3.
Synopsis: Bank accounts for foster children. Provides that a foster
youth who is at least 16 years of age is legally competent to enter into
a contract with a bank or trust company to open a savings or checking
account in the foster youth's name with the consent of: (1) the
department of child services; or (2) a juvenile court with jurisdiction
over the foster youth.
Effective: July 1, 2025.
Campbell, Dant Chesser, Judy
January 21, 2025, read first time and referred to Committee on Financial Institutions.
2025 IN 1441—LS 7320/DI 119 Introduced
First Regular Session of the 124th General Assembly (2025)
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 2024 Regular Session of the General Assembly.
HOUSE BILL No. 1441
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 28-1-1-3.9 IS ADDED TO THE INDIANA CODE
2 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
3 1, 2025]: Sec. 3.9. For purposes of IC 28-1-20-5.5, "foster youth"
4 means an individual who is:
5 (1) at least sixteen (16) years of age; and
6 (2) in foster care (as defined in IC 31-9-2-46.7).
7 SECTION 2. IC 28-1-20-5.5 IS ADDED TO THE INDIANA CODE
8 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
9 1, 2025]: Sec. 5.5. (a) A foster youth is legally competent to enter
10 into a contract with a bank or trust company to open a savings or
11 checking account in the foster youth's name with the consent of:
12 (1) the department of child services; or
13 (2) a juvenile court with jurisdiction over the foster youth.
14 (b) A foster youth who opens a savings or checking account
15 under subsection (a) is:
16 (1) solely responsible for paying all banking-related costs
17 associated with the account; and
2025 IN 1441—LS 7320/DI 119 2
1 (2) solely liable for any and all penalties assessed to the foster
2 youth as the account holder due to the foster youth's violation
3 of the terms of the account.
4 (c) A bank or trust company that contracts with a foster youth
5 under subsection (a) is immune from civil or criminal liability for
6 entering into the contract with the foster youth, unless entering
7 into the contract constitutes, or is the result of:
8 (1) gross negligence; or
9 (2) willful or wanton misconduct;
10 on the part of the bank or trust company.
11 (d) If the department of child services or a juvenile court:
12 (1) consents to a foster youth entering into a contract with a
13 bank or trust company under subsection (a); and
14 (2) subsequently withdraws the consent on the basis of the
15 foster youth's age;
16 the validity of the contract is not affected by the withdrawal of the
17 consent.
18 SECTION 3. IC 34-30-2.1-440.3 IS ADDED TO THE INDIANA
19 CODE AS A NEW SECTION TO READ AS FOLLOWS
20 [EFFECTIVE JULY 1, 2025]: Sec. 440.3. IC 28-1-20-5.5 (Concerning
21 a bank or trust company that contracts with a foster youth).
2025 IN 1441—LS 7320/DI 119