*EH1441.1*
March 21, 2025
ENGROSSED
HOUSE BILL No. 1441
_____
DIGEST OF HB 1441 (Updated March 19, 2025 12:31 pm - DI 154)
Citations Affected: IC 28-1.
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 a juvenile court with
jurisdiction over the qualified youth.
Effective: July 1, 2025.
Campbell, Dant Chesser, Judy,
Meltzer
(SENATE SPONSORS — WALKER K, DONATO, HUNLEY, FORD J.D.,
QADDOURA, RANDOLPH LONNIE M)
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.
February 7, 2025, engrossed.
February 10, 2025, read third time, passed. Yeas 91, nays 0.
SENATE ACTION
February 20, 2025, read first time and referred to Committee on Insurance and Financial
Institutions.
March 20, 2025, amended, reported favorably — Do Pass.
EH 1441—LS 7320/DI 119 March 21, 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.
ENGROSSED
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) certified or acknowledged as a foster youth (as defined in
15 IC 31-9-2-47.3) by the department of child services or a
16 designee of the department of child services.
17 SECTION 3. IC 28-1-1-7 IS ADDED TO THE INDIANA CODE
EH 1441—LS 7320/DI 119 2
1 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
2 1, 2025]: Sec. 7. For purposes of IC 28-1-23-17, "qualified youth"
3 means an individual who is:
4 (1) a foster youth; or
5 (2) an emancipated youth.
6 SECTION 4. IC 28-1-23-17 IS ADDED TO THE INDIANA CODE
7 AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
8 1, 2025]: Sec. 17. (a) A qualified youth may enter into a contract
9 with a depository financial institution to open a savings or checking
10 account in the qualified youth's name with the consent of a juvenile
11 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 qualified youth may not avoid a contract entered into with
20 a depository financial institution under subsection (a) by alleging
21 that the qualified youth was under a legal disability by reason of
22 the qualified youth's age.
EH 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.
_____
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;
EH 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
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COMMITTEE REPORT
Mr. President: The Senate Committee on Insurance and Financial
Institutions, to which was referred House Bill No. 1441, has had the
same under consideration and begs leave to report the same back to the
Senate with the recommendation that said bill be AMENDED as
follows:
Page 1, delete line 14, begin a new line block indented and insert:
"(2) certified or acknowledged as a foster youth (as defined in
IC 31-9-2-47.3) by the department of child services or a
designee of the department of child services.".
Page 2, line 6, delete "is legally competent to" and insert "may".
EH 1441—LS 7320/DI 119 5
Page 2, delete lines 9 through 11, and insert "consent of a juvenile
court with jurisdiction over the qualified youth.".
Page 2, delete lines 19 through 38, begin a new paragraph and
insert:
"(c) A qualified youth may not avoid a contract entered into
with a depository financial institution under subsection (a) by
alleging that the qualified youth was under a legal disability by
reason of the qualified youth's age.".
and when so amended that said bill do pass.
(Reference is to HB 1441 as reprinted February 7, 2025.)
BALDWIN, Chairperson
Committee Vote: Yeas 6, Nays 0.
EH 1441—LS 7320/DI 119