Note: This version of section effective until 1-1-2018. See also following repeal of this chapter, effective 1-1-2018.

Sec. 1. (a) A foreign corporation may not transact business in Indiana until the corporation obtains a certificate of authority from the secretary of state.

1. (b) The following activities do not constitute transacting business within the meaning of subsection (a):

   1. (1) Maintaining, defending, or settling a proceeding.
   2. (2) Holding meetings of the board of directors or members or carrying on other activities concerning internal corporate affairs.
   3. (3) Maintaining bank accounts.
   4. (4) Maintaining offices or agencies for the transfer, exchange, and registration of memberships or securities or maintaining trustees or depositaries with respect to the securities.
   5. (5) Selling through independent contractors.
   6. (6) Soliciting or obtaining orders, by mail or through employees or agents, if the orders require acceptance outside of Indiana before the orders become contracts.
   7. (7) Making loans or otherwise creating or acquiring indebtedness, mortgages, and security interests in real or personal property.
   8. (8) Securing or collecting debts or enforcing mortgages and security interests in property securing the debts.
   9. (9) Owning real or personal property.
   10. (10) Conducting an isolated transaction that is completed within thirty (30) days and that is not in the course of repeated transactions of a similar nature.
   11. (11) Transacting business in interstate commerce.
   12. (12) Soliciting funds if otherwise authorized by Indiana law.

As added by P.L.179-1991, SEC.1.