Indiana House Bill 1473 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 14 2015 - 25% progression, died in committee
Action: 2015-01-14 - First Reading: referred to Committee on Financial Institutions
Pending: House Financial Institutions Committee
Text: Latest bill text (Introduced) [PDF]

Nonprofit facilitators of lending circle loans. Provides that after December 31, 2015, an eligible nonprofit organization may apply to the department of financial institutions (department) for a certificate of registration to facilitate the making of zero interest, low cost lending circle loans to eligible individuals who participate in lending circles in Indiana. Defines a "lending circle" as group of individuals that is voluntarily organized for the purpose of: (1) generating a source of funds by: (A) pooling or collecting contributions from individual group members; or (B) obtaining funds from other sources, including from lending circle loans; and (2) disbursing the

Nonprofit facilitators of lending circle loans. Provides that after December 31, 2015, an eligible nonprofit organization may apply to the department of financial institutions (department) for a certificate of registration to facilitate the making of zero interest, low cost lending circle loans to eligible individuals who participate in lending circles in Indiana. Defines a "lending circle" as group of individuals that is voluntarily organized for the purpose of: (1) generating a source of funds by: (A) pooling or collecting contributions from individual group members; or (B) obtaining funds from other sources, including from lending circle loans; and (2) disbursing the

Rep. Terri Jo Austin [D]

Date	Chamber	Action
2015-01-14	House	First Reading: referred to Committee on Financial Institutions
2015-01-14	House	Authored by Representative Austin

Type	Source
Summary	https://iga.in.gov/legislative/2015/bills/house/1473/details
Text	http://iga.in.gov/static-documents/7/0/7/f/707f56bf/HB1473.01.INTR.pdf