*HB1441.2*
Reprinted
February 7, 2025
HOUSE BILL No. 1441
_____
DIGEST OF HB 1441 (Updated February 6, 2025 11:53 am - DI 150)
Citations Affected: IC 28-1; IC 34-30.
Synopsis: Bank accounts for qualified youth. Provides that a qualified
youth is legally competent to enter into a contract with a depository
financial institution to open a savings or checking account in the
qualified youth's name with the consent of: (1) the department of child
services; or (2) a juvenile court with jurisdiction over the qualified
youth.
Effective: July 1, 2025.
Campbell, Dant Chesser, Judy,
Meltzer
January 21, 2025, read first time and referred to Committee on Financial Institutions.
February 4, 2025, amended, reported — Do Pass.
February 6, 2025, read second time, amended, ordered engrossed.
HB 1441—LS 7320/DI 119 Reprinted
February 7, 2025
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 28-1-1-3.7 IS ADDED TO THE INDIANA CODE
2 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
3 1, 2025]: Sec. 3.7. For purposes of section 7 of this chapter,
4 "emancipated youth" means an individual who is less than eighteen
5 (18) years of age and has:
6 (1) filed for; or
7 (2) been granted;
8 emancipation.
9 SECTION 2. IC 28-1-1-3.9 IS ADDED TO THE INDIANA CODE
10 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
11 1, 2025]: Sec. 3.9. For purposes of section 7 of this chapter, "foster
12 youth" means an individual who is:
13 (1) at least sixteen (16) years of age; and
14 (2) in foster care (as defined in IC 31-9-2-46.7).
15 SECTION 3. IC 28-1-1-7 IS ADDED TO THE INDIANA CODE
16 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
17 1, 2025]: Sec. 7. For purposes of IC 28-1-23-17, "qualified youth"
HB 1441—LS 7320/DI 119 2
1 means an individual who is:
2 (1) a foster youth; or
3 (2) an emancipated youth.
4 SECTION 4. IC 28-1-23-17 IS ADDED TO THE INDIANA CODE
5 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
6 1, 2025]: Sec. 17. (a) A qualified youth is legally competent to enter
7 into a contract with a depository financial institution to open a
8 savings or checking account in the qualified youth's name with the
9 consent of:
10 (1) the department of child services; or
11 (2) a juvenile court with jurisdiction over the qualified youth.
12 (b) A qualified youth who opens a savings or checking account
13 under subsection (a) is:
14 (1) solely responsible for paying all banking-related costs
15 associated with the account; and
16 (2) solely liable for any and all penalties assessed to the
17 qualified youth as the account holder due to the qualified
18 youth's violation of the terms of the account.
19 (c) A depository financial institution that contracts with a
20 qualified youth under subsection (a) is immune from civil or
21 criminal liability for entering into the contract with the qualified
22 youth, unless entering into the contract constitutes, or is the result
23 of:
24 (1) gross negligence; or
25 (2) willful or wanton misconduct;
26 on the part of the depository financial institution.
27 (d) If the department of child services or a juvenile court:
28 (1) consents to a qualified youth entering into a contract with
29 a depository financial institution under subsection (a); and
30 (2) subsequently withdraws the consent on the basis of the
31 qualified youth's age;
32 the validity of the contract is not affected by the withdrawal of the
33 consent.
34 SECTION 5. IC 34-30-2.1-440.3 IS ADDED TO THE INDIANA
35 CODE AS A NEW SECTION TO READ AS FOLLOWS
36 [EFFECTIVE JULY 1, 2025]: Sec. 440.3. IC 28-1-23-17 (Concerning
37 a depository financial institution that contracts with a qualified
38 youth).
HB 1441—LS 7320/DI 119 3
COMMITTEE REPORT
Mr. Speaker: Your Committee on Financial Institutions, to which
was referred House Bill 1441, has had the same under consideration
and begs leave to report the same back to the House with the
recommendation that said bill be amended as follows:
Page 1, line 3, delete "IC 28-1-20-5.5" and insert "IC 28-1-23-17".
Page 1, line 7, delete "IC 28-1-20-5.5" and insert "IC 28-1-23-17".
Page 1, line 9, delete "5.5." and insert "17.".
Page 1, line 10, delete "bank or trust company" and insert
"depository financial institution".
Page 2, line 4, delete "bank or trust company" and insert
"depository financial institution".
Page 2, line 10, delete "bank or trust company" and insert
"depository financial institution".
Page 2, line 13, delete "bank or trust company" and insert
"depository financial institution".
Page 2, line 20, delete "IC 28-1-20-5.5" and insert "IC 28-1-23-17".
Page 2, line 21, delete "bank or trust company" and insert
"depository financial institution".
and when so amended that said bill do pass.
(Reference is to HB 1441 as introduced.)
TESHKA
Committee Vote: yeas 13, nays 0.
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HOUSE MOTION
Mr. Speaker: I move that House Bill 1441 be amended to read as
follows:
Page 1, between the enacting clause and line 1, begin a new
paragraph and insert:
"SECTION 1. IC 28-1-1-3.7 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2025]: Sec. 3.7. For purposes of section 7 of this chapter,
"emancipated youth" means an individual who is less than eighteen
(18) years of age and has:
(1) filed for; or
(2) been granted;
HB 1441—LS 7320/DI 119 4
emancipation.".
Page 1, line 3, delete "IC 28-1-23-17," and insert "section 7 of this
chapter,".
Page 1, between lines 6 and 7, begin a new paragraph and insert:
"SECTION 2. IC 28-1-1-7 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2025]: Sec. 7. For purposes of IC 28-1-23-17, "qualified youth"
means an individual who is:
(1) a foster youth; or
(2) an emancipated youth.".
Page 1, line 9, delete "foster youth" and insert "qualified youth".
Page 1, line 11, delete "foster youth's" and insert "qualified
youth's".
Page 1, line 14, delete "foster youth" and insert "qualified youth".
Page 1, line 15, delete "foster youth" and insert "qualified youth".
Page 2, line 2, delete "foster" and insert "qualified".
Page 2, line 3, delete "foster youth's" and insert "qualified youth's".
Page 2, line 5, delete "foster" and insert "qualified".
Page 2, line 7, delete "foster youth" and insert "qualified youth".
Page 2, line 13, delete "foster youth" and insert "qualified youth".
Page 2, line 16, delete "foster youth's" and insert "qualified
youth's".
Page 2, line 22, delete "foster" and insert "qualified".
Renumber all SECTIONS consecutively.
(Reference is to HB 1441 as printed February 4, 2025.)
MELTZER
HB 1441—LS 7320/DI 119