Statutes, codes, and regulations
Indiana Code
Title 28 - FINANCIAL INSTITUTIONSArticle 1 - DEPARTMENT OF FINANCIAL INSTITUTIONS
Chapter 22 - FOREIGN CORPORATIONS
Section 28-1-22-20 - Change of business before approval; personal liability of officers and directors

Ind. Code § 28-1-22-20

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Current through P.L. 171-2024
Section 28-1-22-20 - Change of business before approval; personal liability of officers and directors

If a foreign corporation changes the nature of the business it transacts in Indiana before the business receives the department's approval, the officers and directors of such corporation shall be severally liable for the liabilities of the corporation that result from the corporation's transaction of that business in Indiana.

IC 28-1-22-20

(Formerly: Acts 1933, c.40, s.343.) As amended by P.L. 263-1985, SEC.93; P.L. 14-1992, SEC.105; P.L. 171-1996, SEC.23; P.L. 11-1998, SEC.5.