Thursday, April 11, 2024
About this Event
Office of Indiana Secretary of State Diego Morales
200 W. Washington St. Indianapolis, IN 46204
FOR IMMEDIATE RELEASE
Thursday, April 11, 2024
Legislation Passed in Secretary Morales’
Auto Dealer Services and Securities Divisions
INDIANAPOLIS- (April 11, 2024) – Secretary of State Diego Morales is proud to announce the passing of legislation advocated by the Indiana Auto Dealers Services Division and Indiana Securities Division.
“We’ve been at the Statehouse, diligently working on impactful legislation. These advances will overall benefit investors, auto dealers, and Hoosier motorists. My office is constantly listening to constituents and is committed to helping improve services across the state,” said Indiana Secretary of State Diego Morales.
Under Senate Enrolled Act 222, beginning July 1, first-time applicants for an independent car dealer license will be required to complete a training course through the Indiana Independent Auto Dealers Association. The training will help assure that independent car dealers are knowledgeable about requirements and procedures for securing and delivering valid vehicle titles to purchasers.
“We’re excited to get to work on dealer education ensuring independent dealers across the state of Indiana have all the tools and resources necessary to successfully operate an independent dealership in our state. This is a net positive for dealers and Hoosiers who will ultimately be the beneficiary of the program's success,” said Travis Baldwin, Indiana Independent Dealers Association President.
Senate Enrolled Act 222 also includes the following changes for auto dealers:
The Indiana Securities Division is always evaluating how it can accomplish its mission to protect investors while promoting responsible capital formation without unnecessary regulation. The Division proposed legislation to remove the Principal Manager License requirement from the Loan Broker industry. House Enrolled Act 1336 passed without opposition and the Division anticipates a streamlined application process.
Both Senate Enrolled Act 222 and House Enrolled Act 1336 take effect on July 1, 2024.
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