(a) This section applies to the following:
(1) A foreign business association that:
- (A) 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
- (B) 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.
- (2) A person who is an agent of a person described in this subsection.
- (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 another country.
- (c) A person subject to this section may not purchase a tract offered for sale under section 5 or 6.1 of this chapter. However, this section does not prohibit a person from bidding on a tract that is owned by the person and offered for sale under section 5 of this chapter.
As added by P.L.66-2014, SEC.10. Amended by P.L.66-2021, SEC.3.