Indiana Code 6-1.1-24-5.1. Ineligible purchasers; registration to bid
(1) A 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) 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.
(c) A business entity that seeks to register to bid at a tax sale must provide a certificate of good standing or proof of registration in accordance with IC 5-23 from the secretary of state to the county treasurer.
As added by P.L.66-2014, SEC.9. Amended by P.L.247-2015, SEC.17; P.L.66-2021, SEC.1.
Indiana Code 6-1.1-24.5-1. Definitions
(1) “Group of affiliated persons” means a group of persons in which each person of the group has a relationship that is described in Section 267(b) of the Internal Revenue Code with at least one (1) other person of the group.
Terms Used In Indiana Code 6-1.1-24.5-1
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
As added by P.L.236-2015, SEC.3. Amended by P.L.99-2018, SEC.5.