SB 169 changesReorganization of consumer lending laws.

What changed

+3 / −186 words · LargeConfidence: high

This version reflects SB 169's advancement from engrossed to enrolled status, indicating passage by both legislative chambers. The most significant substantive change is the removal of the entire appendix containing committee-proposed amendments, which eliminates critical transition provisions that were designed to govern the recodification of consumer lending laws from IC 24 to IC 37. The deleted provisions included safeguards ensuring contracts and documents under prior law would remain valid, a grace period until July 1, 2027 for regulated entities to update materials to comply with recodified statutes, transition rules for existing regulatory rules, and cross-reference provisions clarifying how statutory citations would be treated post-recodification. The removal of these transition mechanisms creates uncertainty about how the shift from old to new consumer lending statutes will be implemented and interpreted. The only addition is an expiration date of June 30, 2028 for SECTION 99, and standard procedural text reflecting the bill's enrolled status has been updated.

Change log

• APPENDIX

  removedhigh confidence

  Committee report and amendments removed from bill text

  The appendix containing the Senate Committee on Insurance and Financial Institutions' report and proposed amendments has been removed. This appendix had included committee amendments that would have added transitional provisions for recodified articles, repealed certain mortgage and home loan statutes effective July 1, 2026, and clarified that contracts and documents created under prior law remain valid under the new articles. The removal of this appendix means these committee-level amendments are no longer part of the bill text as presented.

• APPENDIX >cont.

  removedhigh confidence

  Transition provisions for consumer lending recodification deleted

  This section removes multiple transition provisions that were intended to govern the recodification of consumer lending laws from various IC 24 chapters to IC 37. The deleted text included statements that contracts, documents, and communications created under the old law would remain valid under the new law, that the recodification should not affect substantive operation of prior law, and a grace period until July 1, 2027 for regulated persons to update their materials to comply with the recodified statutes. The removal of these provisions may affect how the transition from old to new consumer lending statutes is interpreted and implemented.

• APPENDIX >cont.

  removedhigh confidence

  Entire APPENDIX continuation section deleted, removing transition rules for recodified consumer lending statutes

  This section is completely removed from the bill. The deleted text contained transition provisions for rules adopted under IC 24-4.4, IC 24-4.5, IC 24-5.5, and IC 24-9, which would have remained in effect until amended, repealed, or suspended under the new IC 37. It also required the department of financial institutions and secretary of state to amend their rules by January 1, 2028, to comply with the recodification changes, and specified that these transition provisions would expire on June 30, 2028. Additionally, committee reporting language and procedural instructions for renumbering sections are removed.