SENATE BILL No. 312
DIGEST OF INTRODUCED BILL
Citations Affected: IC 24-5.5-1-1.
Synopsis: Notice to mortgagors. Provides that certain notice of
foreclosure requirements apply to all mortgagees.
Effective: July 1, 2009.
January 8, 2009, read first time and referred to Committee on Insurance and Financial
First Regular Session 116th General Assembly (2009)
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
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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
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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
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between statutes enacted by the 2008 Regular Session of the General Assembly.
SENATE BILL No. 312
A BILL FOR AN ACT to amend the Indiana Code concerning trade
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 24-5.5-1-1; (09)IN0312.1.1. -->
SECTION 1. IC 24-5.5-1-1, AS ADDED BY P.L.209-2007,
SECTION 2, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2009]: Sec. 1. Except for IC 24-5.5-3,
this article does not
apply to the following:
(1) A person organized or chartered under the laws of this state,
any other state, or the United States that relate to a bank, a trust
company, a savings association, a savings bank, a credit union, or
an industrial loan and investment company.
(2) The Federal National Mortgage Association, the Federal
Home Loan Mortgage Corporation, or a Federal Home Loan
(3) A department or agency of the United States or of Indiana.
(4) A person that is servicing or enforcing a loan that it owns.
(5) A person that is servicing a loan:
(A) for a person described in subdivisions (1) through (4) of
this section; or
(B) insured by the Department of Housing and Urban
Development or guaranteed by the Veterans Administration.
(6) An attorney licensed to practice law in Indiana who is
representing a mortgagor.