(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 country.(c) A foreign business association that:(1) 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(2) 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;may not purchase a tract offered for sale under section 4 of this chapter.As added by P.L.112-2022, SEC.4.
Indiana Legal Code