1. (a) Any bank, savings bank, trust company, corporate fiduciary, credit union, industrial loan and investment company, or savings association that:

   1. (1) is organized under the laws of:

      1. (A) any other state (as defined in IC 28-2-17-19 );
      2. (B) the United States; or
      3. (C) any other country;
   2. (2) is not domiciled in Indiana; and

   3. (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.

2. (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.
3. (c) Isolated business transactions that are not regular, systematic, or continuing do not constitute the transaction of business under subsection (a).

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.