Sec. 1. (a) Any bank, savings bank, trust company, corporate fiduciary, credit union, industrial loan and investment company, or savings association that: (1) is organized under the laws of: (A) any other state (as defined in IC 28-2-17-19 ); (B) the United States; or (C) any other country; (2) is not domiciled in Indiana; and (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. (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. (c) Isolated business transactions that are not regular, systematic, or continuing do not constitute the transaction of business under subsection (a). Formerly: Acts 1933, c.40, s.324. 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.
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