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Senate approves House bill adjusting credit‑union merger voting and increasing allowable prepaid finance charge to 3%
Summary
Conference committee report number 1 for House Bill 1125 passed the Senate 44-1. The reconciled bill allows absentee voting for credit union mergers and raises the allowable nonrefundable prepaid finance charge on certain second mortgages and home equity loans from 2% to 3%.
The Indiana Senate on April 23 adopted the conference committee report for House Bill 1125, a measure that makes two distinct changes: it allows absentee voting for credit union mergers and raises the allowable nonrefundable prepaid finance charge for second mortgages and home equity loans from 2% to 3%.
Senator Walker, presenting the report, said…
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