22 Hoosier Banker May 2016 Details: The bill establishes ABLE accounts in Indiana in accordance with permissible federal law. SB 183 – Real Property Offenses (Foreclosure Mischief) Sen. Rodric Bray, R-Martinsville Rep. John Price, R-Greenwood Bill summary: This bill has the following provisions: Criminal Trespass: It amends the statute concerning criminal trespass to specify that a person commits criminal trespass, if the person knowingly or intentionally enters or refuses to leave the real property of another person after having been prohibited from entering or asked to leave the real property by a law enforcement officer when the real property is: (1) vacant real property or a vacant structure (both as defined by the statute concerning the abatement of vacant structures and abandoned structures); or (2) designated by a municipality or county enforcement authority to be abandoned property or an abandoned structure. (The crime can be either Class A misdemeanor or a Level 6 felony). Continued from page 21. Foreclosure Mischief: It provides that a person who knowingly or intentionally damages, defaces or permanently removes an object from real property that is the subject of a mortgage foreclosure proceeding commits foreclosure mischief, a Class B misdemeanor. It increases the penalty to a Class A misdemeanor if the damage caused is between $750 and $50,000, and to a Level 6 felony if the damage caused is $50,000 or more. It establishes a defense if the damage, removal or defacement was the result of repair, renovation, replacement or maintenance performed in good faith. Details: The IBA has been interested in pursuing this legislation for several years and lobbied for the passage of this legislation. The bill received no opposition in either the House or Senate. SB 183 was amended in the House to include several provisions in SB 204, of which the IBA was supportive. Those provisions include the application of the foreclosure mischief language to commercial properties and the inclusion of the criminal trespass language. SB 221 – Securities and Financial Protection Sen. Doug Eckerty, R-Yorktown Rep. Bob Heaton, R-Terre Haute Bill summary: Senior Savings Program: The bill defines “qualified individual” as an individual associated with a brokerdealer who serves in a supervisory, compliance or legal capacity as part of the individual’s job. It provides that “protective agencies” refers to the Adult Protective Services Unit and the securities commissioner. The bill requires that a qualified individual who has reason to believe that financial exploitation of an endangered adult has occurred, has been attempted or is being attempted, shall make a report and notify the protective agencies. It allows a qualified individual to refuse a request for disbursement of funds from an account: (1) owned by an endangered adult; or (2) of which an endangered adult is a beneficiary or beneficial owner; if the qualified individual has reason to believe that the requested disbursement will result in financial exploitation of the endangered adult. The bill establishes requirements for notification by a broker-dealer or qualified individual if a qualified individual refuses a request for disbursement of funds. The bill provides for expiration of the refusal of disbursement. The bill Guiding Indiana Community Banks Since 1978 Kent, OH • Phoenix, AZ Strategic Planning Capital Planning Liquidity Planning Regulatory Assistance Stock Valuations Capital Markets Internal Audit Information Technology Recruitment & Human Resources Lending & Loan Review Regulatory Compliance Policy Development Young & Associates, Inc. Consultants to the Financial Industry 35 YEARS 1978 - 2016 +
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