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

Sec. 2. (a) A foreign limited liability company may not transact business in Indiana until it obtains a certificate of authority from the secretary of state.

1. (b) Activities that do not constitute transacting business within the meaning of subsection (a) include the following:

   1. (1) Maintaining, defending, or settling a proceeding.
   2. (2) Holding meetings of the managers or members or carrying on other activities concerning internal affairs.
   3. (3) Maintaining bank accounts.
   4. (4) Maintaining offices or agencies for the transfer, exchange, and registration of the limited liability company's interests or other securities or maintaining trustees or depositaries with respect to those securities.
   5. (5) Selling through independent contractors.
   6. (6) Soliciting or obtaining orders, including those by mail or through employees or agents if the orders require acceptance outside Indiana before the orders become contracts.
   7. (7) Making loans or 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 like nature.
   11. (11) Transacting business in interstate commerce.
2. (c) The list of activities in subsection (b) is not exhaustive.

As added by P.L.8-1993, SEC.301.