Section 28-1-22-1 - Necessity of certificate of admission(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(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).Amended by P.L. 118-2017,SEC. 123, eff. 1/1/2018.(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.