Indiana Code 28-1-22-2. Authorized business; equality of rights and privileges with domestic corporations
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Sec. 2. (a) No foreign corporation shall be admitted for the purpose of transacting any kind of business in this state, the transaction of which by domestic corporation is not permitted by the laws of this state.
(b) A foreign corporation admitted to do business in this state shall have the same rights, privileges, and restrictions as domestic corporations of like character or charter, and to the same extent as if it had been organized under this article, to transact the business for which its certificate of admission is issued.
Formerly: Acts 1933, c.40, s.325. As amended by P.L.263-1985, SEC.85; P.L.171-1996, SEC.9.
Terms Used In Indiana Code 28-1-22-2
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.