Bill Watch, Jan. 15, 2019: Current Commercial Law Legislation of Note

The IndyBar Legislative Committee is currently monitoring the following commercial law related legislation. IndyBar members can request that the Legislative Committee track specific legislation by contacting committee chair Mindy Westrick at mindy.westrick@faegrebd.com.

Click here to view the full Bill Watch reports.

HB1055    JUDGMENT LIENS. (TORR J) Provides that additional identifying information must be included when recording a judgment lien. Provides that a judgment lien is extinguished when certain items are recorded with the office of the county recorder in the county where the judgment lien was recorded.

HB1136    STUDY OF CHANGES TO UNIFORM CONSUMER CREDIT CODE. (BURTON W) Urges the legislative council to assign to an interim study committee, for study during the 2019 interim, the topic of revisions to the Uniform Consumer Credit Code. Sets forth issues for consideration by an interim study committee assigned this topic.

HB1137    CREDIT SERVICES ORGANIZATIONS. (BURTON W) Amends the definition of "credit services organization" for purposes of the Indiana Code provisions governing credit services organizations to more closely align the definition with the definition of "credit repair organization" set forth in the federal Credit Repair Organizations Act. Makes a conforming amendment to the definition of "buyer" in the Indiana statute. Requires a credit services organization to do the following with respect to communications made by the credit services organization after June 30, 2019: (1) Include the complete name and address of the credit services organization on all communications. (2) Include a statement identifying itself as a credit services organization on all communications. Specifies that a person that receives a communication that is made in violation of these requirements may bring a cause of action to recover damages under the statute.