Indiana legislation · 2026 Regular Session
Indiana HB1273: Requirements for proxy advisors.
Status: Signed into law, March 3, 2026
Provides that if a proxy advisor makes a recommendation against entity management on an entity proposal or proxy proposal, or makes a default recommendation or policy concerning votes against entity management on entity proposals or proxy proposals, and the proxy advisor does not do so based on a written financial analysis, the proxy advisor shall do the following: (1) At the time the proxy advisor provides the proxy advisory services, provide a clear and conspicuous disclosure to each interest holder or any person acting on behalf of an interest holder, receiving the proxy advisory services, that: (A) identifies the services being provided by the proxy advisor; (B) identifies the recommendation at issue; and (C) states that the proxy advisor has made the recommendation without utilizing a written financial analysis regarding the impact that the recommended action would have on entity interest holders. (2) If the proxy advisor provides certain proxy advisory services, then at the time the proxy advisor provides the proxy advisory services, the proxy advisor must provide to entity management the disclosure provided to each interest holder or any person acting on behalf of an interest holder receiving the proxy advisory services. (3) For the entire time that a proxy advisor is providing proxy advisory services to an interest holder of an entity or any person acting on behalf of an interest holder of an entity, prominently display on the home page of the proxy advisor's website a statement that the proxy advisor has made a recommendation: (A) against entity management on an entity proposal or proxy proposal; and (B) without utilizing a written financial analysis regarding the impact that the recommended action would have on entity interest holders. Provides that if a proxy advisor makes a recommendation against entity management on an entity proposal or proxy proposal, or makes a default recommendation or policy concerning votes against entity management on entity prop
What the bill says
An act to amend the Indiana Code concerning trade regulation.
From the enrolled text:
AN ACT to amend the Indiana Code concerning trade regulation. SECTION 1. IC 24-4-27.5 IS ADDED TO THE INDIANA CODE AS A NEW CHAPTER TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2026]: Chapter 27.5. Proxy Advisors Sec. 0.5. As used in this chapter, "affiliated group" means a group of one (1) or more entities in which a controlling interest is owned by a common owner or owners, either corporate or noncorporate, or by one (1) or more of the member entities. Sec. 0.7. As used in this chapter, "charitable organization" means an organization that is recognized as tax exempt under Section 501(c)(3) of the Internal Revenue Code. Sec. 1. As used in this chapter, "default recommendation or policy" means a system, set of rules, principles, or guidelines designed to assist with voting decisions on any entity proposals or proxy proposals. Sec. 2. (a) As used in this chapter, "entity" means (2) general partnership (as defined in IC 23-0.5-1.5-13), including a limited liability partnership (as defined in IC 23-0.5-1.5-21); (3) limited partnership (as defined in IC 23-0.5-1.5-22); or (4) limited liability company (as defined in IC 23-0.5-1.5-20). HEA 1273 -- Concur (b) The term does not (2) a business trust, a trust with a predominately donative purpose, or a charitable trust; (3) an association or relationship and (B) is not a …
Sponsors
- Kyle Pierce (R, HD-036) · primary sponsor
- Mike Andrade (D, HD-012)
- Jake Teshka (R, HD-007)
Latest actions
- : Signed by the Governor
- : Public Law 60
- : Signed by the President of the Senate
- : Signed by the President Pro Tempore
- : House concurred with Senate amendments; Roll Call 368: yeas 72, nays 20
- : Signed by the Speaker
- : Dissent rescinded
- : Motion to concur filed
- : House advisors appointed: Teshka, Lauer, Miller K
- : House conferees appointed: Pierce K, Andrade
Votes
- HB1273.03.COMS.CON01 (February 25, 2026): 72 yea, 20 nay, passed
- HB1273.03.COMS (February 17, 2026): 41 yea, 4 nay, passed
- HB1273.02.COMH (January 20, 2026): 67 yea, 21 nay, passed
Subjects: COUNTY GOVERNMENT, LOCAL GOVERNMENT; Generally, TRADE REGULATIONS; Generally, TOWNSHIPS AND TOWNSHIP OFFICERS, AGENCIES; Generally
Common questions
- What is HB1273?
- HB1273 is a bill in the Indiana Legislature (2026 Regular Session): Requirements for proxy advisors.
- What does HB1273 do?
- In its own words: An act to amend the Indiana Code concerning trade regulation.
- What is the status of HB1273?
- Signed into law as of March 3, 2026. Latest action: Signed by the Governor (March 3, 2026).
- Who sponsored HB1273?
- Kyle Pierce (R, HD-036), with 2 co-sponsors.
- Where is the official record for HB1273?
- On the Indiana Legislature website: https://iga.in.gov/legislative/2026/bills/house/1273
Source: official Indiana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.