SB0461: A BILL FOR AN ACT to amend the Indiana Code concerning commercial law.

Page last updated: Sunday, April 20, 2025 at 7:56 PM (America/Indianapolis).

General Information

• Stage: Enrolled Senate Bill (S)
• Current Chamber: senate
• Origin Chamber: senate
• Description: Grain indemnity.

Legislators

Actions (22 total)

• Apr 16, 2025, 8:00 PM: Signed by the President Pro Tempore
• Apr 16, 2025, 11:04 AM: Senate concurred with House amendments; Roll Call 464: yeas 41, nays 0
• Apr 10, 2025, 12:45 PM: Motion to concur filed
• Apr 10, 2025, 5:49 AM: Returned to the Senate with amendments
• Apr 9, 2025, 10:47 AM: Third reading: passed; Roll Call 413: yeas 95, nays 0
• Apr 7, 2025, 10:50 AM: Second reading: ordered engrossed
• Apr 3, 2025, 7:07 AM: Committee report: do pass, adopted
• Apr 1, 2025, 10:42 AM: Representative Culp added as cosponsor
• Mar 20, 2025, 7:26 AM: Recommitted to Committee on Ways and Means pursuant to House Rule 126.3
• Mar 20, 2025, 7:26 AM: Committee report: amend do pass, adopted
• Mar 3, 2025, 11:30 AM: First reading: referred to Committee on Agriculture and Rural Development
• Feb 12, 2025, 11:14 AM: Referred to the House
• Feb 11, 2025, 10:48 AM: Cosponsor: Representative Aylesworth
• Feb 11, 2025, 10:47 AM: House sponsor: Representative Baird
• Feb 11, 2025, 10:45 AM: Third reading: passed; Roll Call 112: yeas 44, nays 4
• Feb 10, 2025, 9:31 AM: Second reading: amended, ordered engrossed
• Feb 10, 2025, 9:31 AM: Amendment #2 (Leising) prevailed; voice vote
• Feb 6, 2025, 8:39 AM: Committee report: amend do pass, adopted
• Jan 30, 2025, 11:06 AM: Senator Glick added as second author
• Jan 28, 2025, 9:17 AM: Committee report: amend do pass adopted; reassigned to Committee on Appropriations
• Jan 13, 2025, 7:04 AM: First reading: referred to Committee on Agriculture
• Jan 13, 2025, 7:04 AM: Authored by Senator Leising

Digest

Defines "revocation of a license". Creates a process in which the director of the Indiana grain buyers and warehouse licensing agency (agency) determines whether a building or other protected enclosure constitutes a single warehouse that requires one or more licenses. Specifies the documents a person who desires to conduct business as a grain buyer, warehouse operator, or buyer-warehouse (licensee) must submit to the agency to renew a license to operate. Specifies how a business as a licensee may renew its license. Specifies the types of licenses the agency shall issue and how a license may be relinquished. Establishes what information must be included in a financial statement submitted by a licensee to the agency. Removes the ability of the agency to temporarily suspend a licensee's license. Specifies various matters related to on-premises inspections. Permits the director of the agency (director) to call an informal meeting with a licensee. Provides when the director may revoke, and when the director shall revoke, a licensee's license and what information the director must share with the licensee. Establishes various notice requirements. Permits the agency to adopt rules. Requires the director to inspect and test all equipment used to test the moisture content of grain purchased from producers once per year. Requires the Indiana grain indemnity corporation board to elect a chairperson and vice chairperson and take on various new responsibilities. Addresses various issues with producer premiums. Provides that a grain buyer shall keep accurate and correct records of grain purchased from producers documenting the producer premiums paid by producers. Establishes storage fees to determine storage loss. Requires the office of the attorney general to provide legal assistance if requested by the director. Requires the director to take possession of the bond or other security and all proceeds from a grain sale in the event a licensee has failed to meet its obligations under the grain indemnity chapter. Provides that the director shall provide informal conferences between agency representatives and persons who have or who appear to have grain deposited with the licensee in revocation. Makes technical and conforming changes.