SB 351 Indiana Senate · 2022 Regular Session

Controllable electronic records.

Summary
Adds a new chapter to the Uniform Commercial Code (UCC) that governs transactions involving controllable electronic records and that does the following: (1) Defines "controllable electronic records". (2) Establishes the following: (A) The extent to which a purchaser acquires rights and interests in controllable electronic records. (B) The circumstances under which a qualifying purchaser acquires rights in a controllable electronic record free of any adverse claim. (C) The conditions that must be satisfied for a person to be considered to have control over controllable electronic records. Amends certain sections in the UCC chapter concerning secured transactions to reference controllable electronic records and to provide for the perfection of a security interest in controllable electronic records by: (1) control; or (2) the filing of a financing statement. Amends the Indiana statute concerning unclaimed personal property to: (1) add a definition of "controllable electronic record" in that statute; and (2) authorize (rather than require, as specified in current law) the attorney general to adopt rules regarding virtual currency, controllable electronic records, and digital assets, to the extent such rules are consistent with, and not otherwise covered by: (A) the bill's provisions; or (B) any other Indiana law concerning virtual currency, controllable electronic records, or digital assets.
Bill status signed all 5 stages cleared
Introduction
Feb 2022
Committee Review
Feb 2022
Senate Passage
Feb 2022
House Passage
Feb 2022
Signed into Law
Mar 2022
Introduced Feb 28, 2022 Signed Mar 14, 2022
Floor votes · House Feb 22, 2022

How they voted

This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history

Actions timeline

Total actions
22
Key actions
5
Committee
3
Amendments
2
Mar 14, 2022
Signed into law
Signed by the Governor
executive
Mar 2, 2022
Amended
Senate concurred in House amendments; Roll Call 325: yeas 46, nays 0
upper
Feb 28, 2022
Introduced
Motion to concur filed
upper
Feb 23, 2022
Amended
Returned to the Senate with amendments
lower
Feb 22, 2022
Lower · Passed
Third reading: passed; Roll Call 242: yeas 92, nays 0
lower
Feb 17, 2022
Lower · Passed
Committee report: amend do pass, adopted
lower
Feb 2, 2022
Committee
Referred to the House
upper
Feb 1, 2022
Upper · Passed
Third reading: passed; Roll Call 178: yeas 49, nays 0
upper
Jan 27, 2022
Upper · Passed
Committee report: amend do pass, adopted
upper
4 primary · 2 co-sponsors

Sponsors