INDIANAPOLIS- 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 has all the tools and resources necessary to operate an independent dealership successfully in our state. This is a net positive for dealers and Hoosiers who will ultimately be the beneficiary of
Senate Enrolled Act 222 also includes the following changes for auto dealers:
• Dealers selling REBUILT or SALVAGE-branded vehicles must use a form prescribed by the
Division to make required disclosures to purchasers.
• Any fee, product, or service to be delivered or performed after a sale that is not included in
the advertised price of a vehicle must be specifically and clearly shown in the sale or lease
contract.
• In the case of a new motor vehicle stop-sale directive, manufacturers must compensate
dealers with (unsellable) inventory on their lots 1% of the new vehicle price per month.
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.
