Indiana Senate Bill 334 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 3-1)
Status: Passed on March 25 2014 - 100% progression
Action: 2014-03-25 - Signed by the Governor
Text: Latest bill text (Enrolled) [PDF]

Provides that a federal savings bank that is exempt from the Indiana statute concerning the licensing of creditors in first lien mortgage transactions may voluntarily register with the department of financial institutions (department) for the purpose of sponsoring, under an exclusive written agreement, licensed mortgage loan originators as independent agents if the federal savings bank does the following: (1) Assumes responsibility for and reasonably supervises the activities of the licensed mortgage loan originators. (2) Complies with certain requirements under the statute concerning: (A) registering with the Nationwide Mortgage Licensing System and Registry (NMLSR); (B) maintaining a surety bond; (C) submitting reports to the NMLSR; and (D) filing financial statements with the department. (3) Cooperates with the department, and provides access to records and documents, as required by the department to examine the activities of the licensed mortgage loan originators. (4) Agrees to comply as the director of the department determines necessary to ensure that the activities of the licensed mortgage loan originators comply with specified federal law and with Indiana law. Provides that a licensed loan originator sponsored by a federal savings bank under the provisions must: (1) hold a valid insurance producer license; and (2) sell, solicit, or negotiate insurance exclusively for a licensed insurance company that is a subsidiary of the federal savings bank's parent company. Makes conforming amendments to similar provisions in the Uniform Consumer Credit Code concerning the licensing of creditors in subordinate lien mortgage transactions.

Mortgage lending.

Sen. Greg Walker [R]

Sen. James Smith [R]

Sen. Frank Mrvan [D]

Rep. Mike Speedy [R]

2014-03-05 - Senate - Senate - Motion to Concur in House Amendments (Y: 49 N: 0 NV: 0 Abs: 1) [PASS]
2014-02-25 - House - House Floor - (Y: 93 N: 0 NV: 3 Abs: 4) [PASS]
2014-02-19 - House - House Committee on Financial Institutions - Roll Call 033403 (Y: 11 N: 0 NV: 0 Abs: 0) [PASS]
2014-02-04 - Senate - Senate Floor - (Y: 48 N: 0 NV: 0 Abs: 2) [PASS]
2014-01-30 - Senate - Senate Committee on Financial Institutions - Roll Call 033401 (Y: 7 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2014-03-25	Senate	Signed by the Governor
2014-03-25	Senate	Public Law 103
2014-03-18	Senate	Signed by the President of the Senate
2014-03-14	Senate	Signed by the President Pro Tempore
2014-03-14	House	Signed by the Speaker
2014-03-12	House	Joint Rule 20 technical correction adopted by the House
2014-03-12	Senate	Joint Rule 20 technical correction adopted by the Senate
2014-03-05	Senate	Motion to Concur in House Amendments: prevailed; Roll Call 360: yeas 49 and nays 0
2014-02-25	House	Returned to the Senate with amendments
2014-02-25	House	Third reading: Passed: Roll Call 281: yeas 93 and nays 0
2014-02-24	House	Second reading: engrossed.
2014-02-20	House	Committee report: amend do pass, adopted.
2014-02-10	House	First Reading: Referred to Financial Institutions
2014-02-04	Senate	Representative Speedy added as cosponsor.
2014-02-04	Senate	Representative Burton added sponsor.
2014-02-04	Senate	Referred to the House
2014-02-04	Senate	Third reading: Passed: Roll Call 182: yeas 48 and nays 0
2014-02-04	Senate	Senator Mrvan added as coauthor.
2014-02-04	Senate	Senator Smith added as second author.
2014-02-03	Senate	Second reading: amended, ordered engrossed
2014-02-03	Senate	SB 334 Amendment #1 (Walker), prevailed.
2014-01-30	Senate	Committee report: amend do pass, adopted.
2014-01-14	Senate	First Reading: Referred to Financial Institutions
2014-01-14	Senate	Authored by Senator Walker.

Type	Source
Summary	https://iga.in.gov/legislative/2014/bills/senate/334/details
Text	http://iga.in.gov/static-documents/d/8/b/1/d8b184bf/SB0334.01.INTR.pdf
Text	http://iga.in.gov/static-documents/2/0/a/c/20ac8dd5/SB0334.02.COMS.pdf
Text	http://iga.in.gov/static-documents/6/a/7/9/6a7993e5/SB0334.01.INTR.pdf
Text	http://iga.in.gov/static-documents/c/2/d/4/c2d44456/SB0334.03.ENGS.pdf
Text	http://iga.in.gov/static-documents/e/a/2/a/ea2a78b5/SB0334.02.COMS.pdf
Text	http://iga.in.gov/static-documents/4/1/d/3/41d393f1/SB0334.03.ENGS.pdf
Text	http://iga.in.gov/static-documents/6/d/9/f/6d9f9f34/SB0334.04.COMH.pdf
Text	http://iga.in.gov/static-documents/f/6/7/8/f6786013/SB0334.04.COMH.pdf
Text	http://iga.in.gov/static-documents/e/2/b/e/e2be92fd/SB0334.05.ENRS.pdf
Roll Call	http://iga.in.gov/static-documents/7/5/7/1/7571475b/SB0334.01.INTR.pdf
Roll Call	http://iga.in.gov/static-documents/d/9/7/0/d970651d/SB0334.03.ENGS.182.pdf
Roll Call	http://iga.in.gov/static-documents/1/e/1/4/1e148ad8/SB0334.03.ENGS.pdf
Roll Call	http://iga.in.gov/static-documents/8/a/3/e/8a3e6c26/SB0334.04.COMH.281.pdf
Roll Call	http://iga.in.gov/static-documents/e/4/a/2/e4a28b41/SB0334.04.COMH.360.pdf