§ 23-5-1-6 — Conditions precedent to beginning business; liability for violations

Indiana § 23-5-1-6

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 5: OTHER BUSINESS ASSOCIATIONS
• Ch. 1: Indiana Business Trust Act

Text

No business trust shall transact any business in
this state, except such as may be incident to its organization, until it has
fully complied with sections 4 and 5 of this chapter, and in event of any
violation of this section, all trustees of such business trust, except those
who filed their written dissent in the office of the secretary of state
before such business was transacted, shall be jointly and severally
liable for all debts and obligations of the business trust arising from the
business so transacted in this state prior to compliance with sections 4
and 5 of this chapter.
Formerly: Acts 1963, c.353, s.6. As amended by P.L.34-1987,
SEC.327.