republic-os/legislation/us/states/in/2023/sb-458.md

---
type: "Bill"
title: "Money transmitters."
description: "Effective January 1, 2024, repeals the Indiana Code chapter governing the licensing and regulation of money transmitters by the department of financial institutions (department). Adds to the Indiana Code a new chapter codifying the Money Transmission Modernization Act (Act), to take effect January 1, 2024, and to be administered by the division of consumer credit within the department. Sets forth provisions contained in the Act that address the following: (1) Purposes of the Act. (2) Definitions of terms. (3) Exemptions from the Act's requirements. (4) The supervisory authority of the department under the Act. (5) The licensing of money transmitters. (6) The acquisition of control of a licensee. (7) Reporting and records requirements. (8) Authorized delegates of licensees. (9) Refunds of, and receipts for, money received for transmission. (10) Prudential standards for licensees. (11) The enforcement authority of the department. (12) The application of the Act to licensees that have been issued a license under the current statute. (13) Criminal penalties. Makes conforming references to provisions in the Indiana Code that cite the current money transmission statute."
jurisdiction: "us/states/in"
legislature: "Indiana General Assembly"
session: "2023"
identifier: "SB 458"
citation: "Indiana SB 458 (2023)"
classification: ["bill"]
subjects: ["CONSUMER CREDIT AND PROTECTION (including UCCC)", "CRIMES AND OFFENSES generally", "FINANCIAL INSTITUTIONS", "INDIANA CODE", "UNIFORM STATE LAWS AND COMPACTS"]
status: "enacted"
primary_sponsors: ["Eric Bassler", "Mike Gaskill", "Mike Speedy"]
version_count: 5
action_count: 25
vote_count: 1
first_action: "2023-01-19"
last_action: "2023-05-04"
source: "openstates"
source_identifier: "ocd-bill/6aa937f3-6e8f-446d-8a6f-a7e66edc1431"
source_url: "http://iga.in.gov/legislative/2023/bills/senate/458"
source_hash: "eaae95232e0b71cf4cf675ab07d96ec8d51ecbb40ab9632068d94c7920467279"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-in"]
---

# Indiana SB 458 (2023) — Money transmitters.

Effective January 1, 2024, repeals the Indiana Code chapter governing the licensing and regulation of money transmitters by the department of financial institutions (department). Adds to the Indiana Code a new chapter codifying the Money Transmission Modernization Act (Act), to take effect January 1, 2024, and to be administered by the division of consumer credit within the department. Sets forth provisions contained in the Act that address the following: (1) Purposes of the Act. (2) Definitions of terms. (3) Exemptions from the Act's requirements. (4) The supervisory authority of the department under the Act. (5) The licensing of money transmitters. (6) The acquisition of control of a licensee. (7) Reporting and records requirements. (8) Authorized delegates of licensees. (9) Refunds of, and receipts for, money received for transmission. (10) Prudential standards for licensees. (11) The enforcement authority of the department. (12) The application of the Act to licensees that have been issued a license under the current statute. (13) Criminal penalties. Makes conforming references to provisions in the Indiana Code that cite the current money transmission statute.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **Engrossed Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0458/versions/SB0458.03.ENGS)
2. **Enrolled Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0458/versions/SB0458.05.ENRH)
3. **Introduced Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0458/versions/SB0458.01.INTR)
4. **Senate Bill (H)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0458/versions/SB0458.04.COMH)
5. **Senate Bill (S)** (committee substitute) — [source](http://in-proxy.openstates.org/2023/bills/SB0458/versions/SB0458.02.COMS)

## Votes

- SB 458 - Speedy - 3rd Reading — **84–3** (pass) · lower

## Sponsors

- Eric Bassler — primary (person)
- Mike Gaskill — primary (person)
- Mike Speedy — primary (person)
- Lonnie Randolph — coauthor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-01-19** Authored by Senator Bassler
- **2023-01-19** First reading: referred to Committee on Insurance and Financial Institutions `reading-1, referral-committee`
- **2023-02-02** Committee report: amend do pass, adopted `committee-passage`
- **2023-02-06** Senator Gaskill added as second author
- **2023-02-09** Senator Randolph added as coauthor
- **2023-02-13** Second reading: ordered engrossed `reading-2`
- **2023-02-13** Placed back on second reading
- **2023-02-20** Amendment #2 (Young M) prevailed; voice vote `amendment-passage`
- **2023-02-20** Amendment #3 (Bassler) prevailed; voice vote `amendment-passage`
- **2023-02-20** Reread second time: amended, ordered engrossed `reading-2`
- **2023-02-21** Third reading: passed; Roll Call 146: yeas 45, nays 0 `passage, reading-3, reading-3`
- **2023-02-21** House sponsor: Representative Speedy
- **2023-02-22** Referred to the House `referral`
- **2023-02-28** First reading: referred to Committee on Financial Institutions `reading-1, referral-committee`
- **2023-03-30** Committee report: amend do pass, adopted `committee-passage`
- **2023-04-03** Second reading: ordered engrossed `reading-2`
- **2023-04-06** Third reading: passed; Roll Call 367: yeas 84, nays 3 `passage, reading-3, reading-3`
- **2023-04-06** Returned to the Senate with amendments `receipt`
- **2023-04-18** Motion to concur filed `filing`
- **2023-04-19** Senate concurred in House amendments; Roll Call 460: yeas 33, nays 7
- **2023-04-24** Signed by the President Pro Tempore `passage`
- **2023-04-28** Signed by the President of the Senate `passage`
- **2023-05-01** Signed by the Speaker `passage`
- **2023-05-04** Public Law 198 `became-law`
- **2023-05-04** Signed by the Governor `executive-signature`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/6aa937f3-6e8f-446d-8a6f-a7e66edc1431`. Confidence: reported (aggregated from official Indiana legislature records).