§ 28-1-22-1 — Necessity of certificate of admission

Indiana § 28-1-22-1

• Jurisdiction: Indiana
• Art. 1: DEPARTMENT OF FINANCIAL INSTITUTIONS
• Ch. 22: Foreign Corporations

Text

(a) Any bank, savings bank, trust company,
corporate fiduciary, credit union, industrial loan and investment
company, or savings association that:
(1) is organized under the laws of:
(A) any other state (as defined in IC 28-2-17-19);
(B) the United States; or
(C) any other country;
(2) is not domiciled in Indiana; and
(3) is referred to in this chapter as a corporation or foreign
corporation;
shall, before transacting business in this state, obtain a certificate of
admission to this state from the department, which must be filed with
the secretary of state. A corporation may not do business in Indiana
unless a certificate of admission is issued to the corporation by the
department.
(b) The activities listed in IC 23-0.5-5-5(a) do not constitute
transacting business within the meaning of subsection (a). For the
purposes of this section, the list of activities set forth in IC 23-0.5-5-5(a) is not exhaustive.
(c) Isolated business transactions that are not regular, systematic, or
continuing do not constitute the transaction of business under
subsection (a).
Formerly: Acts 1933, c.40, s.324. As amended by P.L.263-1985,
SEC.84; P.L.262-1995, SEC.49; P.L.171-1996, SEC.8; P.L.192-1997,
SEC.5; P.L.213-2007, SEC.43; P.L.217-2007, SEC.41; P.L.118-2017,
SEC.123.