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Allows a senior neighborhood to not have a lifeguard on duty if certain conditions are met except for during visiting hours when minors are allowed to use the pool. Requires the senior neighborhood to post signs at each pool entrance and inform the senior neighborhood's residents of the rules for the pool. Allows the Indiana department of health (state department) to assess a fine for each violation. Requires the state department to amend the Indiana Administrative Code rule concerning the regulating of pools and inform local health departments concerning the changes.