- (a) This section does not apply to a party foreclosing on a mortgage executed on a tract offered for sale under this chapter.
- (b) As used in this section, "foreign business association" means a corporation, professional corporation, nonprofit corporation, limited liability company, partnership, or limited partnership that is organized under the laws of another state or country.
(c) A foreign business association that:
- (1) has not obtained a certificate of authority from, or registered with, the secretary of state in accordance with the procedures described in IC 23 , as applicable; or
(2) has obtained a certificate of authority from, or registered with, the secretary of state in accordance with the procedures described in IC 23 , as applicable, but is not in good standing in Indiana as determined by the secretary of state;
may not purchase a tract offered for sale under section 4 of this chapter.
As added by P.L.112-2022, SEC.4.