The House Judiciary Committee heard SB 351 on controllable electronic records sponsored by Rep. Teshka and authored by Sen. Garten. The bill, as explained by the author, permits Indiana to regulate virtual currency and digital products. It allows banks to take virtual currency as collateral, permits the Indiana Attorney General to make rules about unclaimed property in this area, permits a security interest to be taken under the Uniform Commercial Code, and defines controllable electronic records.
An amendment was adopted by consent to include a line of the current Indiana Code which was omitted by mistake. The amended bill passed 9-0.
Read the bill at: http://iga.in.gov/legislative/2022/bills/senate/351