Bank accounts for foster and emancipated youths., the official text

First Regular Session of the 124th General Assembly (2025)

PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana
Constitution) is being amended, the text of the existing provision will appear in this style type,
additions will appear in this style type, and deletions will appear in this style type.

 Additions: Whenever a new statutory provision is being enacted (or a new constitutional
provision adopted), the text of the new provision will appear in this style type. Also, the
word NEW will appear in that style type in the introductory clause of each SECTION that adds
a new provision to the Indiana Code or the Indiana Constitution.
 Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts
between statutes enacted by the 2024 Regular Session of the General Assembly.

  HOUSE ENROLLED ACT No. 1441

   AN ACT to amend the Indiana Code concerning financial
institutions.

   Be it enacted by the General Assembly of the State of Indiana:

   SECTION 1. IC 28-1-1-3.7 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2025]: Sec. 3.7. For purposes of section 7 of this chapter,
"emancipated youth" means an individual who is less than eighteen
(18) years of age and has been:

      (1) granted emancipation; or
      (2) emancipated by operation of law.
   SECTION 2. IC 28-1-1-3.9 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2025]: Sec. 3.9. For purposes of section 7 of this chapter, "foster
youth" means an individual who is:
      (1) at least sixteen (16) years of age; and
      (2) certified or acknowledged as a foster youth (as defined in
      IC 31-9-2-47.3) by the department of child services or a
      designee of the department of child services.
   SECTION 3. IC 28-1-1-7 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2025]: Sec. 7. For purposes of IC 28-1-23-17, "qualified youth"
means an individual who is:
      (1) a foster youth; or
      (2) an emancipated youth.

HEA 1441 — Concur
                                    2

   SECTION 4. IC 28-1-23-17 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY
1, 2025]: Sec. 17. (a) A qualified youth may enter into a contract
with a depository financial institution to open a savings or checking
account in the qualified youth's name with the consent of a juvenile
court with jurisdiction over the qualified youth.

   (b) A qualified youth who opens a savings or checking account
under subsection (a) is:

      (1) solely responsible for paying all banking-related costs
      associated with the account; and
      (2) solely liable for any and all penalties assessed to the
      qualified youth as the account holder due to the qualified
      youth's violation of the terms of the account.
   (c) A qualified youth may not avoid a contract entered into with
a depository financial institution under subsection (a) by alleging
that the qualified youth was under a legal disability by reason of
the qualified youth's age.

HEA 1441 — Concur
Speaker of the House of Representatives

President of the Senate

President Pro Tempore

Governor of the State of Indiana

Date:                             Time:

HEA 1441 — Concur