Ind. Code § 23-2.5-8-7 — Indiana Code / Title 23 / Article 2.5 / Chapter 8 / Section 23-2.5-8-7
Loan broker ceasing to do business; records; notice to commissioner
Status: in_force

Sec. 7. (a) A loan broker that ceases to conduct business as a loan broker or allows the loan broker license to lapse shall, before ceasing to conduct business as a loan broker, arrange for the preservation of the records specified in section 5 of this chapter for the remainder of the period specified in section 6(a)(1) of this chapter during which the loan broker ceases to conduct business as a loan broker.

(b) A loan broker described in subsection (a) shall notify the commissioner of the exact address of the physical location where the books and records will be maintained during the period described in subsection (a).

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-0.5-9-14 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-14
Articles of incorporation; domestic nonprofit corporation
Status: in_force

Sec. 14. The secretary of state shall collect the following fees for filing the articles of incorporation of a domestic nonprofit corporation:

(1) Twenty dollars ($20) for an electronic filing.

(2) Fifty dollars ($50) for filing in a manner other than electronically.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-0.5-9-21 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-21
Restatement of articles of organization; domestic limited liability company
Status: in_force

Sec. 21. The secretary of state shall collect the following fees for filing a restatement of the articles of organization of a domestic limited liability company or restatement of the articles of organization of a domestic limited liability company with amendment:

(1) Twenty dollars ($20) for an electronic filing.

(2) Thirty dollars ($30) for filing in a manner other than electronically.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-19-1-0.2 — Indiana Code / Title 23 / Article 19 / Chapter 1 / Section 23-19-1-0.2
Application of predecessor act
Status: in_force

Sec. 0.2. (a) The predecessor act exclusively governs all actions or proceedings that are pending on June 30, 2008, or may be instituted on the basis of conduct occurring before July 1, 2008, but a civil action may not be maintained to enforce any liability under the predecessor act unless instituted within any period of limitation that applied when the cause of action accrued or within five (5) years after June 30, 2008, whichever is earlier.

(b) All effective registrations under the predecessor act and all administrative orders relating to the registrations, rules, statements of policy, interpretive opinions, declaratory rulings, no-action determinations, and conditions imposed on the registrations under the predecessor act remain in effect while they would have remained in effect if this article had not been enacted, and are considered to have been filed, issued, or imposed under this article, but are exclusively governed by the predecessor act.

(c) The predecessor act exclusively applies to an offer or sale made within one (1) year after June 30, 2008, under an offering made in good faith before July 1, 2008, on the basis of an exemption available under the predecessor act.

As added by P.L.220-2011, SEC.384. Amended by P.L.152-2020, SEC.7.
Ind. Code § 23-13-19-2 — Indiana Code / Title 23 / Article 13 / Chapter 19 / Section 23-13-19-2
Board of trustees; members; elections; alumni trustees
Status: in_force

Sec. 2. The board of trustees of Wabash College shall consist of twenty-one (21) members, one (1) of whom shall be the president of the college, and whose term of office as trustee shall be of equal duration with his incumbency of the presidency of the college. The other twenty (20) members shall be elected for a term of four (4) years, in classes of five (5) each year, as the successors of the trustees whose terms of office will expire in that year. A trustee may succeed himself in office. All of such elections shall be by a majority vote of the trustees in office present and voting at the election meeting. However, two (2) trustees in each even-numbered year and one (1) trustee in each odd-numbered year shall be chosen by the alumni of the college by the process provided in section 3 of this chapter and shall be known as "alumni trustees".

Formerly: Acts 1834, c.18, s.2; Acts 1851, c.102, s.5; Acts 1901, c.19, s.1,2; Acts 1933, c.197, s.1; Acts 1973, P.L.337, SEC.1; Acts 1978, P.L.153, SEC.1. As added by Acts 1982, P.L.146, SEC.3.
Ind. Code § 23-0.5-7-1 — Indiana Code / Title 23 / Article 0.5 / Chapter 7 / Section 23-0.5-7-1
Written interrogatories
Status: in_force

Sec. 1. The secretary of state may propound to any:

(1) domestic or foreign entity, business trust, or agricultural cooperative, that the secretary of state has reason to believe is subject to the provisions of this title under which the domestic entity was created or foreign entity is permitted to transact business in Indiana; and

(2) any governing person of the entity described in subdivision (1);

any written interrogatories as may be reasonably necessary and proper to enable the secretary of state to ascertain whether the entity was formed using suspected fraudulent or alternate filings or is being used to commit fraud.

As added by P.L.118-2017, SEC.5. Amended by P.L.156-2023, SEC.8.
Ind. Code § 23-1-39-4 — Indiana Code / Title 23 / Article 1 / Chapter 39 / Section 23-1-39-4
Repealed
Status: repealed

As added by P.L.133-2009, SEC.32. Repealed by P.L.118-2017, SEC.15.
Ind. Code § 23-14-65-17 — Indiana Code / Title 23 / Article 14 / Chapter 65 / Section 23-14-65-17
Employment of agents and employees; collection and receipt of money
Status: in_force

Sec. 17. A cemetery board:

(1) may employ agents for the sale of cemetery lots or part of lots and pay the agents compensation for services that the board considers reasonable;

(2) may employ all necessary superintendents, attorneys, engineers, and other employees and discharge them at the board's pleasure;

(3) may collect and receive all money owed for:

(A) the sale of lots;

(B) the care of lots;

(C) the care of graves;

(D) the digging of graves; and

(E) all other services rendered; and

(4) shall use and disburse the money received for the preservation, care, and improvement of the cemetery or cemeteries over which it has control and management.

As added by P.L.52-1997, SEC.39.
Ind. Code § 23-0.5-9-15 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-15
Articles of amendment to articles of incorporation; domestic nonprofit corporation
Status: in_force

Sec. 15. The secretary of state shall collect the following fees for filing articles of amendment to the articles of incorporation of a domestic nonprofit corporation:

(1) Twenty dollars ($20) for an electronic filing.

(2) Thirty dollars ($30) for filing in a manner other than electronically.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-1.3-10-2 — Indiana Code / Title 23 / Article 1.3 / Chapter 10 / Section 23-1.3-10-2
Written correspondence by benefit director
Status: in_force

Sec. 2. If, during the year covered by a benefit report:

(1) a benefit director:

(A) resigned from or refused to stand for reelection to the position of benefit director; or

(B) was removed from the position of benefit director; and

(2) the benefit director furnished the benefit corporation with any written correspondence concerning the circumstances surrounding the resignation, refusal, or removal;

the benefit report must include the correspondence described in subdivision (2) as an exhibit.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-1-43-8 — Indiana Code / Title 23 / Article 1 / Chapter 43 / Section 23-1-43-8
"Control" defined
Status: in_force

Sec. 8. (a) As used in this chapter, "control", including the terms "controlling", "controlled by", and "under common control with", means the possession (directly or indirectly) of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise.

(b) A person's beneficial ownership of ten percent (10%) or more of the voting power of a corporation's outstanding voting shares creates a presumption that the person has control of the corporation.

(c) Notwithstanding subsections (a) and (b), a person is not considered to have control of a corporation if the person holds voting power, in good faith and not for the purpose of circumventing this chapter, as an agent, bank, broker, nominee, custodian, or trustee for one (1) or more beneficial owners who do not individually or as a group have control of the corporation.

As added by P.L.149-1986, SEC.27.
Ind. Code § 23-2.5-1-38 — Indiana Code / Title 23 / Article 2.5 / Chapter 1 / Section 23-2.5-1-38
"Ultimate equitable owner"
Status: in_force

Sec. 38. "Ultimate equitable owner" means a person that, directly or indirectly, owns or controls ten percent (10%) or more of the equity interest in a loan broker, regardless of whether the person owns or controls the equity interest through:

(1) one (1) or more other persons; or

(2) one (1) or more proxies, powers of attorney, or variances.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-2-6-37 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-37
Service of process
Status: in_force

Sec. 37. (a) If a person, including a person that is not a resident of Indiana, engages in conduct prohibited or made actionable by this chapter or any rule or order adopted or issued by the commissioner, the commissioner shall be considered the person's attorney for the purpose of receiving service of any lawful process in a noncriminal proceeding that is:

(1) brought against the person, a successor of the person, or a personal representative of the person;

(2) related to the prohibited or actionable conduct; and

(3) brought under this chapter or any rule or order issued or adopted by the commissioner.

(b) Process served on the commissioner under subsection (a) has the same force and validity as personal service on the person engaging in the prohibited or actionable conduct.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-14-78-3 — Indiana Code / Title 23 / Article 14 / Chapter 78 / Section 23-14-78-3
"Property owner"
Status: in_force

Sec. 3. As used in this chapter, "property owner" means the owner of record of a parcel of real property that contains a cemetery to which this chapter applies.

As added by P.L.102-2020, SEC.3.
Ind. Code § 23-17-16-5 — Indiana Code / Title 23 / Article 17 / Chapter 16 / Section 23-17-16-5
Official capacity defined
Status: in_force

Sec. 5. (a) As used in this chapter, "official capacity" means the following:

(1) When used with respect to a director, the office of director in a corporation.

(2) When used with respect to an individual other than a director under section 13 of this chapter, the office in a corporation held by the officer or the employment or agency relationship undertaken by the employee or agent on behalf of the corporation.

(b) The term does not include service for any other foreign or domestic corporation or any partnership, limited liability company, joint venture, trust, employee benefit plan, or other enterprise, whether for profit or not.

As added by P.L.179-1991, SEC.1. Amended by P.L.8-1993, SEC.333.
Ind. Code § 23-14-63-4 — Indiana Code / Title 23 / Article 14 / Chapter 63 / Section 23-14-63-4
Duties of township trustee
Status: in_force

Sec. 4. The township trustee, if satisfied that the petition is signed by a majority of the owners of lots in the cemetery who are residents of the township or of the immediate vicinity of the cemetery, shall convey the cemetery to the corporation formed by the petitioners.

As added by P.L.52-1997, SEC.37.
Ind. Code § 23-7-8-9 — Indiana Code / Title 23 / Article 7 / Chapter 8 / Section 23-7-8-9
Assurance of voluntary compliance; form; filing
Status: in_force

Sec. 9. (a) In the administration of this chapter, the attorney general may accept an assurance of voluntary compliance with respect to any violation of this chapter. The assurance of voluntary compliance may include any of the following:

(1) Stipulation for the voluntary payment by the person of the costs of investigation.

(2) Payment of an amount to be held in escrow pending the outcome of an action or as restitution to aggrieved persons.

The assurance of voluntary compliance must be in writing. It must be filed with the court having jurisdiction over the violation and is subject to the court's approval.

(b) The giving of an assurance of voluntary compliance under this section is not, for any purpose, considered an admission of a solicitation or failure to register in violation of this chapter. However, any violation of the terms of the assurance constitutes prima facie evidence of a violation of this chapter. An investigation or court action terminated on the basis of the giving of an assurance of compliance under this section may be reopened by the attorney general at any time for further proceedings that are in the public interest.

As added by P.L.12-1986, SEC.3. Amended by P.L.24-1989, SEC.9.
Ind. Code § 23-1-20-6 — Indiana Code / Title 23 / Article 1 / Chapter 20 / Section 23-1-20-6
"Deliver" or "delivery"
Status: in_force

Sec. 6. "Deliver" or "delivery" means any method of delivery used in conventional commercial practice, including delivery by hand, mail, commercial delivery, and electronic transmission.

As added by P.L.149-1986, SEC.4. Amended by P.L.133-2009, SEC.8.
Ind. Code § 23-17-7-7 — Indiana Code / Title 23 / Article 17 / Chapter 7 / Section 23-17-7-7
Liability for obligations; transferee's liability
Status: in_force

Sec. 7. (a) A member may become liable to the corporation for dues, assessments, or fees. However:

(1) an article of incorporation or a bylaw provision; or

(2) a resolution adopted by the board of directors;

authorizing or imposing dues, assessments, or fees does not create liability to pay the obligation. However, nonpayment constitutes grounds for expelling or suspending the member or suspending or terminating the membership. The validity of mandatory membership and the validity of a lien imposed by a recorded declaration of covenant or a similar commitment running with the real property or an interest in the real property is not affected by this subsection.

(b) A permitted transferee of a membership having notice at the time of the transfer of unpaid dues, assessments, or fees of the transferor is liable to the corporation for unpaid dues, assessments, or fees. However, a transferee who is an executor, an administrator, a guardian, a trustee, a receiver, or a pledgee is not personally liable for any unpaid consideration due to the corporation. An heir or a legatee who is a permitted transferee may surrender the membership to the corporation without incurring any liability for any unpaid consideration.

As added by P.L.179-1991, SEC.1. Amended by P.L.96-1993, SEC.7.
Ind. Code § 23-14-31-18 — Indiana Code / Title 23 / Article 14 / Chapter 31 / Section 23-14-31-18
"Scattering" defined
Status: in_force

Sec. 18. As used in this chapter, "scattering" means the final disposition of cremated human remains under section 44(a)(3) of this chapter.

As added by P.L.231-1995, SEC.2. Amended by P.L.173-1996, SEC.1.
Ind. Code § 23-10-2-8 — Indiana Code / Title 23 / Article 10 / Chapter 2 / Section 23-10-2-8
Selection of appointment of trustees according to custom
Status: in_force

Sec. 8. Any society may select or appoint trustees according to its common usage or custom, if they desire it; but a certificate of such selection or appointment, and the record of the same, as in case of their election, shall not be dispensed with.

Formerly: Acts 1852, 1RS, c.101, s.8.
Ind. Code § 23-16-1-2 — Indiana Code / Title 23 / Article 16 / Chapter 1 / Section 23-16-1-2
Certificate of limited partnership
Status: in_force

Sec. 2. "Certificate of limited partnership" means a certificate described in IC 23-16-3-2 and such a certificate as amended or restated.

As added by P.L.147-1988, SEC.1.
Ind. Code § 23-1-55-3 — Indiana Code / Title 23 / Article 1 / Chapter 55 / Section 23-1-55-3
Notification of registration to local officials
Status: in_force

Sec. 3. (a) As used in this section, "local officials of the county" refer to all of the following:

(1) The county executive.

(2) If a person described in section 2 of this chapter intends to locate in a municipality, the executive of the municipality.

(3) A local entity that supervises a zoning board in the county.

(b) After receiving a registration described in section 2 of this chapter, the secretary of state shall notify the local officials of the county in which a person described in section 2 of this chapter intends to offer for sale or sell sexually explicit materials of the registration filed under section 2 of this chapter.

As added by P.L.92-2008, SEC.1.
Ind. Code § 23-17-2-17 — Indiana Code / Title 23 / Article 17 / Chapter 2 / Section 23-17-2-17
"Member"
Status: in_force

Sec. 17. (a) "Member" means a person who, on more than one (1) occasion, has the right to vote for the election of a director under a corporation's articles of incorporation or bylaws.

(b) A person is not a member because of any of the following:

(1) Any rights the person has as a delegate.

(2) Any rights the person has to designate a director.

(3) Any rights the person has as a director.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-17-7-9 — Indiana Code / Title 23 / Article 17 / Chapter 7 / Section 23-17-7-9
Advancements or loans to corporation; return or repayment
Status: in_force

Sec. 9. A member may advance or loan money to the corporation that may be returned or repaid to the member at a time and under a condition that the corporation and the member agree. However, upon return or repayment, the member may not receive more than the principal amount of the money advanced or loaned, together with reasonable interest at a rate that is not in excess of market rate, whether fixed or variable, otherwise available without premium to the corporation under the same circumstances at the time of the advance or loan.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-14-50-3 — Indiana Code / Title 23 / Article 14 / Chapter 50 / Section 23-14-50-3
Trustee's relief from duties
Status: in_force

Sec. 3. If:

(1) any gift, grant, bequest, donation, or other property held by the owner of a cemetery for cemetery purposes is held by the cemetery owner as a trust of any kind; or

(2) the owner of a cemetery is a beneficiary of any trust estate for cemetery purposes;

the trustee of the trust is relieved of the duties otherwise imposed upon the trustee by IC 30-4-5-12 through IC 30-4-5-15.

As added by P.L.52-1997, SEC.24.
Ind. Code § 23-14-64-2 — Indiana Code / Title 23 / Article 14 / Chapter 64 / Section 23-14-64-2
Public cemetery
Status: in_force

Sec. 2. A township trustee may accept a conveyance of real estate described in section 1 of this chapter. After the conveyance, the township trustee shall maintain the cemetery as a public cemetery.

As added by P.L.52-1997, SEC.38.
Ind. Code § 23-1.5-3-4 — Indiana Code / Title 23 / Article 1.5 / Chapter 3 / Section 23-1.5-3-4
Proxies; voting trusts
Status: in_force

Sec. 4. (a) A proxy for shares of a professional corporation is valid only if it is given to a qualified person of that corporation.

(b) A voting trust with respect to shares of a professional corporation is valid only if all the trustees and beneficiaries of the voting trust are qualified persons.

As added by P.L.239-1983, SEC.1.
Ind. Code § 23-0.6-1-6 — Indiana Code / Title 23 / Article 0.6 / Chapter 1 / Section 23-0.6-1-6
Reference to external facts
Status: in_force

Sec. 6. (a) If a:

(1) provision under this article permits any of the terms of a plan to be dependent on facts objectively ascertainable outside the plan; and

(2) plan includes terms that are dependent on facts described in subdivision (1);

the manner in which the facts will operate upon the terms of the plan and the manner in which the facts will become operative must be set forth in the plan.

(b) The facts described under subsection (a) may include any of the following:

(1) Any of the following that are available in a nationally recognized news or information medium either in print or electronically:

(A) Statistical or market indices.

(B) Market prices of any security or group of securities.

(C) Interest rates.

(D) Currency exchange rates.

(E) Similar economic or financial data.

(2) A determination made or action taken by any person, including the entity or another party to a plan.

(3) The terms of, or actions taken under, an agreement to which the entity is a party, or any other agreement or document.

(c) The following provisions of a plan may not be made dependent on facts outside the plan:

(1) The name and address of any person required in a filed document.

(2) The registered office of any entity required in a filed document.

(3) The registered agent of any entity required in a filed document.

(4) The number of authorized interests and designation of each class or series of interests.

(5) The effective date of a filed document.

(6) Any required statement in a plan of the date on which the underlying transaction was approved or the manner in which that approval was given.

(d) If a provision of a plan is made dependent on a fact ascertainable outside the plan, and:

(1) the fact is not ascertainable by reference to a source described in subsection (b)(1) or a document that is a matter of public record; and

(2) the entity has not provided notice of the fact to the affected interest holders;

the entity shall file with the secretary of state articles of amendment setting forth the fact promptly after the time the fact referred to is first ascertainable or changes.

(e) Articles of amendment filed under subsection (d):

(1) are considered to be authorized by the plan to which the articles of amendment relate; and

(2) may be filed by the entity without further action by the governing person.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-16-9-2 — Indiana Code / Title 23 / Article 16 / Chapter 9 / Section 23-16-9-2
Judicial dissolution
Status: in_force

Sec. 2. On application by or for a partner, the circuit or superior court of the county in which the office of the limited partnership referred to in IC 23-0.5-4 is located may decree dissolution of a limited partnership whenever it is not reasonably practicable to carry on the business in conformity with the partnership agreement. If the office referred to in IC 23-0.5-4 is not within Indiana, the application may be made to the circuit or superior court of the county in which the registered agent referred to in IC 23-0.5-4 is located.

As added by P.L.147-1988, SEC.1. Amended by P.L.118-2017, SEC.75.
Ind. Code § 23-19-7-5 — Indiana Code / Title 23 / Article 19 / Chapter 7 / Section 23-19-7-5
"Monetary sanction"
Status: in_force

Sec. 5. As used in this chapter, "monetary sanction" refers to money required to be paid under this article as the result of a judicial or an administrative action, including any penalties imposed or amounts ordered through an order of disgorgement. However, the term does not include any amounts ordered or identified as restitution.

As added by P.L.85-2012, SEC.6. Amended by P.L.71-2014, SEC.4.
Ind. Code § 23-18-2-13 — Indiana Code / Title 23 / Article 18 / Chapter 2 / Section 23-18-2-13
Repealed
Status: repealed

As added by P.L.8-1993, SEC.301. Repealed by P.L.118-2017, SEC.103.
Ind. Code § 23-16-8-4 — Indiana Code / Title 23 / Article 16 / Chapter 8 / Section 23-16-8-4
Right of assignee to become limited partner
Status: in_force

Sec. 4. (a) An assignee of a partnership interest, including an assignee of a general partner, may become a limited partner, if and to the extent that:

(1) the partnership agreement so provides; or

(2) all other partners consent in writing.

(b) An assignee who has become a limited partner has, to the extent assigned, the rights and powers, and is subject to the restrictions and liabilities, of a limited partner under the partnership agreement and this article. An assignee who becomes a limited partner also is liable for the obligations of the assignor to make contributions as provided in IC 23-16-6-2. However, the assignee is not obligated for liabilities that were unknown to the assignee at the time the assignee became a limited partner and that could not be ascertained from the partnership agreement. Additionally, the assignee is not liable for any accrued liabilities of the assignor at the time of such assignment unless the assignee specifically assumes such liabilities.

(c) If an assignee of a partnership interest becomes a limited partner, the assignor is not released from the assignor's liabilities to the limited partnership under IC 23-16-3-8, IC 23-16-6, and IC 23-16-7, unless such liabilities are specifically assumed by the assignee under subsection (b).

As added by P.L.147-1988, SEC.1.
Ind. Code § 23-0.5-9-43 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-43
Application for certificate of existence
Status: in_force

Sec. 43. The secretary of state shall collect the following fees for filing an application for certificate of existence:

(1) Fifteen dollars ($15) for an electronic filing.

(2) Thirty dollars ($30) for filing in a manner other than electronically.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-19-6-1 — Indiana Code / Title 23 / Article 19 / Chapter 6 / Section 23-19-6-1
Securities division; securities commissioner; unlawful use of nonpublic information; investor education initiatives; securities division enforcement account; securities restitution fund; assistance from attorney general; police powers
Status: in_force

Sec. 1. (a) This article shall be administered by a division of the office of the secretary of state. The secretary of state shall appoint a securities commissioner who shall be responsible for the direction and supervision of the division and the administration of this article under the direction and control of the secretary of state. The salary of the securities commissioner shall be paid out of the funds appropriated for the administration of this article. The commissioner shall serve at the will of the secretary of state.

(b) The secretary of state:

(1) shall employ a chief deputy, attorneys, a senior investigator, a senior accountant, and other deputies, investigators, accountants, clerks, stenographers, and other employees necessary for the administration of this article; and

(2) shall fix their compensation with the approval of the budget agency.

(c) It is unlawful for the commissioner or an officer, employee, or designee of the commissioner to use for personal benefit or the benefit of others records or other information obtained by or filed with the commissioner that is not public under section 7(b) of this chapter. This article does not authorize the commissioner or an officer, employee, or designee of the commissioner to disclose the record or information, except in accordance with section 2, 7(c), or 8 of this chapter.

(d) This article does not create or diminish a privilege or exemption that exists at common law, by statute or rule, or otherwise.

(e) Subject to IC 4-2-6-15, the commissioner may develop and implement investor education initiatives to inform the public about investing in securities, with particular emphasis on the prevention and detection of securities fraud. In developing and implementing these initiatives, the commissioner may collaborate with public and nonprofit organizations with an interest in investor education. The commissioner may accept a grant or donation from a person that is not affiliated with the securities industry or from a nonprofit organization, regardless of whether the organization is affiliated with the securities industry, to develop and implement investor education initiatives. This subsection does not authorize the commissioner to require participation or monetary contributions of a registrant in an investor education program.

(f) The securities division enforcement account is established. Except as provided in subsection (o), fees and funds of whatever character accruing from the administration of this article shall be accounted for by the secretary of state and shall be deposited with the treasurer of state to be deposited by the treasurer of the state in either the state general fund or the securities division enforcement account. Subject to IC 4-2-6-15, expenses incurred in the administration of this article shall be paid from the state general fund upon appropriation being made for the expenses in the manner provided by law for the making of those appropriations. The following shall be deposited by the treasurer of state in the securities division enforcement account:

(1) Grants and donations received under subsection (e).

(2) Costs of investigations recovered under section 4(e) of this chapter.

(3) Fifty percent (50%) of the first four million dollars ($4,000,000):

(A) of a civil penalty recovered under section 3(b) or 4(d) of this chapter;

(B) recovered in a settlement of an action initiated to enforce this article; or

(C) awarded as a judgment in an action to enforce this article.

(g) The following shall be deposited by the treasurer of state in the state general fund:

(1) Fifty percent (50%) of the first four million dollars ($4,000,000):

(A) of a civil penalty recovered under section 3(b) or 4(d) of this chapter;

(B) recovered in a settlement of an action initiated to enforce this article; or

(C) awarded as a judgment in an action to enforce this article.

(2) Any amount exceeding four million dollars ($4,000,000):

(A) of a civil penalty recovered under section 3(b) or 4(d) of this chapter;

(B) recovered in a settlement of an action initiated to enforce this article; or

(C) awarded as a judgment in an action to enforce this article.

(3) Subject to subsection (o), other fees and revenues that are not designated for deposit in the securities division enforcement account or the securities restitution fund.

(h) Notwithstanding IC 23-2-2.5-34, IC 23-2-2.5-43, IC 23-2.5-2, IC 23-19-4-12, IC 25-11-1-15, and this chapter, five percent (5%) of funds received for deposit in the securities division enforcement account shall instead be deposited in the securities restitution fund established by IC 23-20-1-25. Subject to appropriation by the general assembly and subject to IC 4-2-6-15, the funds deposited in the enforcement account shall be available, with the approval of the budget agency:

(1) to augment and supplement the funds appropriated for the administration of this article; and

(2) for grants and awards to nonprofit entities for programs and activities that will further investor education and financial literacy in the state.

The funds in the enforcement account do not revert to the state general fund at the end of any state fiscal year. The fund may be augmented after budget committee review.

(i) In connection with the administration and enforcement of this article, the attorney general shall render all necessary assistance to the commissioner upon the commissioner's request, and to that end, the attorney general shall employ legal and other professional services as are necessary to adequately and fully perform the service under the direction of the commissioner as the demands of the securities division shall require. Expenses incurred by the attorney general for the purposes stated in this subsection shall be chargeable against and paid out of funds appropriated to the attorney general for the administration of the attorney general's office. The attorney general may authorize the commissioner and the commissioner's designee to represent the commissioner and the securities division in any proceeding involving enforcement or defense of this article.

(j) Neither the secretary of state, the commissioner, nor an employee of the securities division shall be liable in their individual capacity, except to the state, for an act done or omitted in connection with the performance of their respective duties under this article.

(k) The commissioner shall take, prescribe, and file the oath of office prescribed by law. The commissioner, chief deputy commissioner, and each attorney or investigator designated by the commissioner are police officers of the state and shall have all the powers and duties of police officers in making arrests for violations of this article, or in serving any process, notice, or order connected with the enforcement of this article by whatever officer, authority, or court issued and shall comprise the enforcement department of the division and are considered a criminal justice agency for purposes of IC 5-2-4 and IC 10-13-3.

(l) The provisions of this article delegating and granting power to the secretary of state, the securities division, and the commissioner shall be liberally construed to the end that:

(1) the practice or commission of fraud may be prohibited and prevented;

(2) disclosure of sufficient and reliable information in order to afford reasonable opportunity for the exercise of independent judgment of the persons involved may be assured; and

(3) the qualifications may be prescribed to assure availability of reliable broker-dealers, investment advisers, and agents engaged in and in connection with the issuance, barter, sale, purchase, transfer, or disposition of securities in this state.

It is the intent and purpose of this article to delegate and grant to and vest in the secretary of state, the securities division, and the commissioner full and complete power to carry into effect and accomplish the purpose of this article and to charge them with full and complete responsibility for its effective administration.

(m) Copies of any statement and documents filed in the office of the secretary of state and of any records of the secretary of state certified by the commissioner shall be admissible in any prosecution, action, suit, or proceeding based upon, arising out of, or under this article to the same effect as the original of such statement, document, or record would be if actually produced.

(n) IC 4-21.5 and any rules of practice adopted by the securities division are applicable to administrative proceedings under this article.

(o) Notwithstanding any other law, two percent (2%) of funds received for deposit in the state general fund as described in subsection (g)(3) shall instead be deposited in the securities restitution fund established by IC 23-20-1-25.

As added by P.L.27-2007, SEC.23. Amended by P.L.114-2010, SEC.10; P.L.85-2012, SEC.4; P.L.92-2013, SEC.80; P.L.205-2013, SEC.338; P.L.2-2014, SEC.103; P.L.160-2015, SEC.6; P.L.39-2016, SEC.2; P.L.175-2019, SEC.3; P.L.156-2023, SEC.13; P.L.213-2025, SEC.296.
Ind. Code § 23-17-32-1 — Indiana Code / Title 23 / Article 17 / Chapter 32 / Section 23-17-32-1
Application of chapter
Status: in_force

Sec. 1. This chapter does not apply to:

(1) a national securities association that is registered:

(A) under Section 15(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78o-3); and

(B) in accordance with any regulations adopted under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.); or

(2) any information a national securities association described in subdivision (1) provides to the secretary of state under IC 23-19 or under rules adopted or orders issued under IC 23-19.

As added by P.L.221-2023, SEC.2.
Ind. Code § 23-0.5-1.5-26 — Indiana Code / Title 23 / Article 0.5 / Chapter 1.5 / Section 23-0.5-1.5-26
"Organic law"
Status: in_force

Sec. 26. "Organic law" means the law of an entity's jurisdiction of formation governing the internal affairs of the entity.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-14-66-2 — Indiana Code / Title 23 / Article 14 / Chapter 66 / Section 23-14-66-2
Taxation for costs of additional care and maintenance
Status: in_force

Sec. 2. (a) If the legislative body is satisfied with the accuracy of the petition, it shall:

(1) record its findings at that meeting or at any regular meeting; and

(2) subject to subsection (b), levy and collect an annual tax, as other taxes are levied and collected, in an amount that it considers reasonable, to provide additional care and maintenance for the cemetery.

(b) Taxes collected by a city or town for the care and maintenance of a cemetery lying entirely outside of the corporate limits of the city or town may not exceed three cents ($0.03) on each one hundred dollars ($100) of assessed valuation of property in the city or town.

As added by P.L.52-1997, SEC.40.
Ind. Code § 23-1-38-3 — Indiana Code / Title 23 / Article 1 / Chapter 38 / Section 23-1-38-3
Proposal of amendment for submission to shareholders; procedure for adoption
Status: in_force

Sec. 3. (a) A corporation's board of directors may propose one (1) or more amendments to the articles of incorporation for submission to the shareholders.

(b) For the amendment to be adopted:

(1) the board of directors must recommend the amendment to the shareholders unless the board of directors determines that because of conflict of interest or other special circumstances it should make no recommendation and communicates the basis for its determination to the shareholders with the amendment; and

(2) the shareholders entitled to vote on the amendment must approve the amendment as provided in subsection (e).

(c) The board of directors may condition its submission of the proposed amendment on any basis.

(d) The corporation shall notify each shareholder, whether or not entitled to vote, of the proposed shareholders' meeting in accordance with IC 23-1-29-5. The notice of meeting must also state that the purpose, or one (1) of the purposes, of the meeting is to consider the proposed amendment and must contain or be accompanied by a copy or summary of the amendment.

(e) Unless this article, the articles of incorporation, or the board of directors (acting under subsection (c)) require a greater vote or a vote by voting groups, the amendment to be adopted must be approved by:

(1) a majority of the votes entitled to be cast on the amendment by any voting group with respect to which the amendment would create dissenters' rights; and

(2) the votes required by IC 23-1-30-6 and IC 23-1-30-7 by every other voting group entitled to vote on the amendment.

As added by P.L.149-1986, SEC.22.
Ind. Code § 23-0.5-5-11 — Indiana Code / Title 23 / Article 0.5 / Chapter 5 / Section 23-0.5-5-11
Revocation of registration; grounds; notice
Status: in_force

Sec. 11. (a) The secretary of state may revoke the registration of a registered foreign entity, business trust, or agricultural cooperative if:

(1) the entity does not pay, not later than sixty (60) days after the due date, any fee, tax, interest, or penalty required to be paid to the secretary of state under this article or law of Indiana other than this article;

(2) the entity does not deliver to the secretary of state for filing, not later than sixty (60) days after the due date, a biennial report;

(3) the entity does not have a registered agent as required by IC 23-0.5-4-1;

(4) the entity does not deliver to the secretary of state for filing a statement of change under IC 23-0.5-4-6 not later than thirty (30) days after a change occurs in the name or address of the entity's registered agent; or

(5) the secretary of state receives a duly authenticated certificate from the secretary of state or other official having custody of entity filings in the state or country under whose law the entity is registered stating that it has been dissolved or disappeared as the result of a merger.

(b) If the secretary of state determines that one (1) or more grounds exists under subsection (a) for revocation of a registration, the secretary of state shall provide to the foreign entity written notice of the determination, unless the secretary of state:

(1) receives a receipt showing failure of a previous attempt of service of process upon the entity's registered agent at the address of the registered office; and

(2) determines that the secretary of state's office has no record of the entity's principal office address.

(c) The notice under subsection (b) must state:

(1) the effective date of the revocation, which must be at least sixty (60) days after the date the secretary of state delivers the copy; and

(2) the grounds for revocation under subsection (a).

(d) The authority of a registered foreign entity to do business in Indiana ceases on the effective date of the notice of revocation under subsection (b), unless before that date the entity cures each ground for revocation stated in the notice. If the entity cures each ground, the secretary of state shall file a record so stating.

(e) The secretary of state's revocation of a registration appoints the secretary of state the entity's agent for service of process in any proceeding based on a cause of action that arose during the time the entity was authorized to transact business in Indiana. Service of process on the secretary of state under this subsection is service on the entity. Upon receipt of process, the secretary of state shall mail a copy of the process to the entity at its principal office shown in its most recent biennial report or in any subsequent communication received from the entity stating the current mailing address of its principal office, unless the secretary of state:

(1) receives a receipt showing failure of a previous attempt of service of process upon the entity's registered agent at the address of the registered office; and

(2) determines that the secretary of state's office has no record of the entity's principal office address.

(f) Revocation of an entity's registration does not terminate the authority of the registered agent of the entity.

As added by P.L.118-2017, SEC.5. Amended by P.L.52-2018, SEC.20; P.L.156-2023, SEC.6.
Ind. Code § 23-1.5-3-6 — Indiana Code / Title 23 / Article 1.5 / Chapter 3 / Section 23-1.5-3-6
Repealed
Status: repealed

As added by P.L.239-1983, SEC.1. Amended by P.L.34-1997, SEC.6. Repealed by P.L.78-2017, SEC.3.
Ind. Code § 23-14-48-0.1 — Indiana Code / Title 23 / Article 14 / Chapter 48 / Section 23-14-48-0.1
Repealed
Status: repealed

As added by P.L.220-2011, SEC.380. Repealed by P.L.63-2012, SEC.26.
Ind. Code § 23-2-2.5-13 — Indiana Code / Title 23 / Article 2 / Chapter 2.5 / Section 23-2-2.5-13
Disclosure statements
Status: in_force

Sec. 13. A registration notification form filed under section 10.5 of this chapter shall be accompanied by the fee prescribed in section 43 of this chapter and by one (1) copy of a disclosure statement. The disclosure statement shall be in a form prescribed by the commissioner or in a form permitted under 16 CFR 436, as amended.

Formerly: Acts 1975, P.L.262, SEC.1. As amended by P.L.168-2001, SEC.5.
Ind. Code § 23-1-21-6 — Indiana Code / Title 23 / Article 1 / Chapter 21 / Section 23-1-21-6
Bylaws
Status: in_force

Sec. 6. (a) The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation.

(b) The bylaws of a corporation may contain any provision for managing the business and regulating the affairs of the corporation that is not inconsistent with law or the articles of incorporation.

As added by P.L.149-1986, SEC.5.
Ind. Code § 23-14-33-9.5 — Indiana Code / Title 23 / Article 14 / Chapter 33 / Section 23-14-33-9.5
"Certificate of burial rights"
Status: in_force

Sec. 9.5. "Certificate of burial rights" means a written instrument issued by the owner of a cemetery to a person purchasing a burial right in the cemetery.

As added by P.L.113-2022, SEC.3.
Ind. Code § 23-14-48-2.2 — Indiana Code / Title 23 / Article 14 / Chapter 48 / Section 23-14-48-2.2
Withdrawal of funds from perpetual care fund established as a conventional trust
Status: in_force

Sec. 2.2. If:

(1) the perpetual care fund of a cemetery is a trust; and

(2) the perpetual care fund trust has not been converted into a total return unitrust under section 2.6 of this chapter;

the trustee of the trust may, to the extent allowed by section 2 of this chapter, withdraw funds from the trust in amounts the trustee considers necessary to pay the cost of perpetual care of the cemetery, notwithstanding any provision in the terms of the trust instrument that would restrict withdrawals from the trust for perpetual care of the cemetery to less than the amounts allowed by section 2 of this chapter.

As added by P.L.163-2016, SEC.1. Amended by P.L.33-2019, SEC.2.
Ind. Code § 23-10-2-9 — Indiana Code / Title 23 / Article 10 / Chapter 2 / Section 23-10-2-9
Powers of trustees
Status: in_force

Sec. 9. Such trustees shall be deemed a body politic and corporate, under such name and style as the society may elect; and, by that name, shall have power to contract, sue, be contracted with and sued with like effect as other persons or corporations.

Formerly: Acts 1852, 1RS, c.101, s.9.
Ind. Code § 23-18-3-2.5 — Indiana Code / Title 23 / Article 18 / Chapter 3 / Section 23-18-3-2.5
Officers
Status: in_force

Sec. 2.5. If the written operating agreement of a limited liability company provides for officers as permitted by IC 23-18-4-4(a)(3), the following apply:

(1) Each officer has those powers and duties:

(A) set forth, generally or specifically in the written operating agreement; or

(B) otherwise delegated to an officer from time to time by the:

(i) manager or managers of a manager-managed limited liability company; or

(ii) member or members of a member-managed limited liability company;

in a manner consistent with the written operating agreement.

(2) Each officer has the status of an agent of the limited liability company for purposes of section 3 of this chapter.

(3) If an officer acts within the officer's apparent authority to carry on the business of the limited liability company in the usual way, the officer's actions bind the limited liability company to the same extent as the actions of a manager would bind a limited liability company under section 1.1(c)(2) and 1.1(d) of this chapter.

(4) Notice to an officer of a matter relating to the business or affairs of the limited liability company, or the knowledge of the officer acting in the particular matter, is notice to the limited liability company to the same extent that notice to a manager or knowledge of a manager would be treated as notice to a limited liability company under section 2(b)(1) of this chapter.

As added by P.L.40-2013, SEC.7. Amended by P.L.63-2014, SEC.30.
Ind. Code § 23-13-20-2 — Indiana Code / Title 23 / Article 13 / Chapter 20 / Section 23-13-20-2
Objects of corporation
Status: in_force

Sec. 2. The objects of the corporation are to promote the general interests of education, and to qualify men and women to engage in the employments and professions of society and to discharge honorably and usefully the various duties of life. The profession of a particular religious faith shall not be required of a person who becomes a student.

As added by P.L.1-1989, SEC.49.
Ind. Code § 23-2.5-1-11.5 — Indiana Code / Title 23 / Article 2.5 / Chapter 1 / Section 23-2.5-1-11.5
"Individual"
Status: in_force

Sec. 11.5. "Individual" means a natural person.

As added by P.L.89-2024, SEC.2.
Ind. Code § 23-13-19-3 — Indiana Code / Title 23 / Article 13 / Chapter 19 / Section 23-13-19-3
Selection of alumni trustees
Status: in_force

Sec. 3. (a) The alumni trustees shall be selected as provided in this section.

(b) At the annual meeting of the alumni association of Wabash College, a committee of canvassers consisting of three (3) alumni, at least one (1) of whom shall be a resident of Montgomery County, Indiana, shall be elected to serve for the ensuing year and until their successors are elected. The board of directors of the National Association of Wabash Men shall nominate at least four (4) persons in even-numbered years and at least three (3) persons in odd-numbered years, all of such persons to be alumni of the college, as its choice of candidates for the position or positions of alumni trustee to be voted for by the alumni in the election.

(c) On the fourth Tuesday of February in each year, the registrar shall distribute to each alumnus of the college a ballot which lists the names of the candidates selected by the board of directors of the National Association of Wabash Men, along with spaces for two (2) "write-in" candidates in even-numbered years and a space for a "write-in" candidate in odd-numbered years. Such distribution of ballots by the registrar may be accomplished by regular mail, electronic mail, or any other method of transmission reasonably calculated to allow the alumni of the college to receive the ballots and vote within the time frame described in this section. The ballot shall also contain information and instructions concerning the time and manner of voting. Each alumnus is entitled to vote for two (2) candidates in even-numbered years, and for one (1) candidate in odd-numbered years. Each alumnus shall designate on his ballot his two (2) choices or his one (1) choice for the positions or position of alumni trustee, as the case may be, and shall vote for the alumnus' choice or choices of candidates by use of a secure electronic agent that creates an electronic record with the capability of including an electronic signature, consistent with the definitions provided in IC 26-2-8-102, as established by the registrar. Alternatively, an alumnus may print a paper copy of his ballot, designate his two (2) choices or his one (1) choice for the positions or position of alumni trustee, as the case may be, manually sign his ballot, and mail it to the committee canvassers in care of the registrar's office, Wabash College, Crawfordsville, Indiana. On the fourth Tuesday of April in each year, the ballots shall be canvassed by the committee of canvassers. Within three (3) days thereafter the committee shall certify to the secretary of the board of trustees the names of the two (2) candidates in even-numbered years and the name of the one (1) candidate in odd-numbered years, receiving the highest number of votes. At its next meeting following the fourth Tuesday in April of each year, the board of trustees shall elect to its membership the two (2) candidates or the one (1) candidate, as the case may be, whose names or name has been so certified to the board's secretary by the committee of canvassers.

(d) If, in any year, for any cause, the alumni fail to select the alumni trustee or trustees as provided in this section, the board of trustees shall elect, by a majority vote of the trustees in office present and voting at the election meeting, two (2) alumni in even-numbered years or one (1) alumnus in odd-numbered years, as the case may be, to serve as alumni trustees of Wabash College. Subject to the provisions of this chapter, the trustees shall, by a majority vote of their number present and voting at the time of such election, elect successor trustees in the event of the death or resignation of any of their number. Any vacancies so filled shall be for the unexpired term of the trustee whose death or resignation has caused such vacancy.

(e) The word "alumnus", as used throughout this section, means any person holding a degree in a course from the college and any person who has been in residence at the college one (1) year or more. The word "alumnus" does not include any person actively on the rolls of the college as an undergraduate at the time of any annual election of trustees, or any person without a degree who entered the college with a class which has not yet graduated at the time of any annual election.

Formerly: Acts 1834, c.18, s.2; Acts 1851, c.102, s.5; Acts 1901, c.19, s.1,2; Acts 1933, c.197, s.1; Acts 1973, P.L.337, SEC.1; Acts 1978, P.L.153, SEC.1. As added by Acts 1982, P.L.146, SEC.3. As amended by P.L.31-2013, SEC.1; P.L.216-2021, SEC.47.
Ind. Code § 23-14-31-27 — Indiana Code / Title 23 / Article 14 / Chapter 31 / Section 23-14-31-27
Authorization procedure; immunity from liability; exceptions
Status: in_force

Sec. 27. (a) Except as provided in subsection (c), a crematory authority shall not cremate human remains until the authority has received the following:

(1) A cremation authorization form provided by the crematory authority, signed by an authorizing agent, containing the following information:

(A) The identity of the human remains and the time and date of death.

(B) The name of the funeral director who obtained the cremation authorization.

(C) The name of the authorizing agent and the relationship between the authorizing agent and the decedent.

(D) A statement by the authorizing agent that the authorizing agent:

(i) has the right to authorize the cremation of the decedent;

(ii) is not aware of any person who has a superior priority right to that of the authorizing agent; or

(iii) if the authorizing agent is aware that there is another person who has a superior priority right to that of the authorizing agent, a statement that the authorizing agent has made all reasonable efforts to contact the person, has been unable to contact the person, and has no reason to believe that the person would object to the cremation of the decedent.

(E) Authorization for the crematory authority to cremate the human remains.

(F) A statement that the human remains do not contain a pacemaker or any other material or implant or radiation producing device that may be potentially hazardous or cause damage to the cremation chamber or the individual performing the cremation. The authorization form may state that the funeral director is not liable for damages caused by a pacemaker or other implanted device that was not disclosed to the funeral director or of which the funeral director could not reasonably be aware.

(G) The name of the funeral director authorized to receive the cremated remains from the crematory authority or, if the crematory is on cemetery property, the cemetery authorized to receive cremated remains.

(H) The manner in which final disposition of the cremated remains is to take place, if known. If the cremation authorization form does not specify final disposition in a grave, niche, or scattering area, the form may indicate that the cremated remains will be held by the crematory authority for not longer than thirty (30) days from the date of cremation before the remains are released. The form may indicate that the crematory authority shall return cremated remains that have not been disposed of within thirty (30) days to the funeral director or funeral home of record who shall hold them for not longer than sixty (60) days from the date of cremation before disposing of the cremated remains either as previously authorized or, if there is no authorization, in any legal manner. The funeral home has no liability for:

(i) disposing of cremated remains in any manner permitted by law if the remains have been held; or

(ii) holding the cremated remains;

in excess of the sixty (60) days permitted under this clause if the authorizing agent fails to claim the remains during the sixty (60) day period. The funeral home must first send written notice by certified mail return receipt requested to the authorizing agent explaining the intentions of the funeral home regarding the disposal of or holding of the cremated remains in order for the funeral home to be immune from liability under this clause.

(I) A statement confirming the identity of the valuables belonging to the decedent previously taken and being held by the funeral director or the funeral home.

(J) A statement prohibiting the crematory from selling nonorganic material recovered from the human remains.

(K) A statement that the authorizing agent has made specific arrangements for any viewing of the decedent before cremation, or for a service with the decedent present before cremation. If a viewing or service is planned, the date and time of the viewing or service and whether the crematory authority is authorized to proceed with the cremation upon receipt of the human remains.

(L) The signature of the authorizing agent, attesting to the accuracy of all representations contained on the cremation authorization form.

(2) A completed and executed burial transit permit provided by the local health officer to the funeral director indicating that the human remains are to be cremated.

(3) A copy of:

(A) the completed and executed certificate of death; or

(B) a release for cremation by the coroner if an investigation of the circumstances of the deceased person's death came under the authority of the coroner, but the release does not constitute an authorization as required by this chapter.

(b) The cremation authorization form required under subsection (a)(1) must be signed by the funeral director who obtained the cremation authorization. The funeral director shall execute the cremation authorization form as a witness and is not responsible for the representations made by the authorizing agent unless the funeral director has actual knowledge of a false or inaccurate representation. The funeral director shall certify to the crematory that the human remains delivered to the crematory authority are the human remains identified by the authorizing agent on the cremation authorization form.

(c) Notwithstanding subsection (a)(3)(A), a death certificate is not required for the cremation of the remains of a person:

(1) who died in another state; and

(2) whose remains are transported to Indiana by:

(A) a licensed funeral director; or

(B) the agent of a licensed funeral director;

for the purpose of cremation at an Indiana crematory;

if the funeral director or funeral director's agent obtains the documents required for cremation by the state in which the death occurred. However, if final disposition of the human remains is to occur in Indiana, the provisions of subsection (a)(3)(A) shall apply.

As added by P.L.231-1995, SEC.2. Amended by P.L.174-1996, SEC.1; P.L.52-1997, SEC.5; P.L.169-2003, SEC.1.
Ind. Code § 23-4-3-3 — Indiana Code / Title 23 / Article 4 / Chapter 3 / Section 23-4-3-3
Affidavit of correctness of inventory; list of liabilities
Status: in_force

Sec. 3. It shall be the duty of such surviving partner or partners, immediately upon the filing of such schedule of appraisement, to file with the clerk of the court having probate jurisdiction, his or their affidavit that the schedule filed by said appraisers contains a full, true and complete list of all property, rights, credits, moneys and effects belonging to said firm; and, at the same time, shall file a full, true and complete list of all the liabilities of said firm at the time of the death of said deceased partner, to which said list of liabilities said surviving partner or partners shall also append his or their affidavits testifying to the correctness thereof.

Formerly: Acts 1877, c.86, s.3.
Ind. Code § 23-19-5-3 — Indiana Code / Title 23 / Article 19 / Chapter 5 / Section 23-19-5-3
Evidentiary burden
Status: in_force

Sec. 3. (a) In a civil action or administrative proceeding under this article, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the claim.

(b) In a criminal proceeding under this article, a person claiming an exemption, exception, preemption, or exclusion has the burden of going forward with evidence of the claim.

As added by P.L.27-2007, SEC.23.
Ind. Code § 23-17-13-2 — Indiana Code / Title 23 / Article 17 / Chapter 13 / Section 23-17-13-2
Repealed
Status: repealed

As added by P.L.179-1991, SEC.1. Repealed by P.L.110-2008, SEC.13.
Ind. Code § 23-4-1-44 — Indiana Code / Title 23 / Article 4 / Chapter 1 / Section 23-4-1-44
Limited liability partnerships; legislative intent and policy
Status: in_force

Sec. 44. (1) It is the intent of the legislature that the legal existence of limited liability partnerships formed under an agreement governed by this chapter be recognized outside the boundaries of this state and that the laws of this state governing such limited liability partnerships transacting business outside this state be granted the protection of full faith and credit of the Constitution of the United States.

(2) It is the policy of this state that the internal affairs of partnerships, including limited liability partnerships, formed under an agreement governed by this chapter, including the liability of partners for debts, obligations, and liabilities of or chargeable to the partnership, a partner, or partners, are subject to and governed by the laws of this state.

As added by P.L.230-1995, SEC.9.
Ind. Code § 23-14-31-15 — Indiana Code / Title 23 / Article 14 / Chapter 31 / Section 23-14-31-15
"Holding facility" defined
Status: in_force

Sec. 15. As used in this chapter, "holding facility" means an area that:

(1) is designated for the retention of human remains before cremation, including a cremation room;

(2) complies with all applicable public health laws; and

(3) preserves the health and safety of the crematory authority personnel.

As added by P.L.231-1995, SEC.2.
Ind. Code § 23-18.1-1-4 — Indiana Code / Title 23 / Article 18.1 / Chapter 1 / Section 23-18.1-1-4
Limited liability company law applicable
Status: in_force

Sec. 4. Except as otherwise provided in this article, IC 23-18 is generally applicable to all series limited liability companies.

As added by P.L.170-2016, SEC.19.
Ind. Code § 23-13-15-1 — Indiana Code / Title 23 / Article 13 / Chapter 15 / Section 23-13-15-1
Universities and colleges; authorization; acceptance of section
Status: in_force

Sec. 1. Any university or college, incorporated by and under the laws of the state of Indiana, shall have the right to acquire and hold real estate by donation, devise, or purchase on foreclosure of mortgage given to secure any part of the endowment fund of said university or college, and the same to dispose of for the use and purposes of such university or college, such real estate not to exceed in value the sum of five hundred thousand dollars ($500,000), exclusive of the realty used and occupied for university and college grounds and buildings; provided, that all such real estate shall be disposed of within twenty (20) years after the same has been so acquired; and provided, further, that any such university or college shall, no later than September 9, 1885, file with the secretary of state of Indiana a certified copy of the proceedings of the board of trustees of such university or college accepting the provisions of this section as part of the organic laws of such university or college.

Formerly: Acts 1885, c.49, s.1. As amended by P.L.34-1987, SEC.357.
Ind. Code § 23-18-3-2.6 — Indiana Code / Title 23 / Article 18 / Chapter 3 / Section 23-18-3-2.6
Intent; validity of operating agreements and acts before July 1, 2014
Status: in_force

Sec. 2.6. Section 2.5 of this chapter and IC 23-18-4-4(a)(3) are not intended to adversely affect the validity of:

(1) any provision of a written operating agreement in effect before July 1, 2014, that:

(A) provides for an officer or officers; or

(B) sets forth the powers or duties of an officer or officers; or

(2) any act by an officer before July 1, 2014.

As added by P.L.63-2014, SEC.31.
Ind. Code § 23-15-12-1 — Indiana Code / Title 23 / Article 15 / Chapter 12 / Section 23-15-12-1
Exceptions
Status: in_force

Sec. 1. This chapter does not apply to:

(1) an entity that is regulated by:

(A) the office of the comptroller of the currency;

(B) the Federal Deposit Insurance Corporation;

(C) the Board of Governors of the United States Federal Reserve System;

(D) the Indiana department of financial institutions; or

(E) the National Credit Union Administration;

(2) an entity that is owned or controlled by a state chartered credit union or a federally chartered credit union;

(3) a corporation formed under IC 8-1-13;

(4) a cooperative corporation formed under IC 8-1-17;

(5) an association organized under IC 15-12-1;

(6) a mutual insurance company formed under IC 27 or the laws of another state;

(7) any state or federally organized financial institution that is mutually owned; or

(8) a nonprofit corporation organized as a mutual benefit corporation formed under IC 23-17.

As added by P.L.97-2017, SEC.3.
Ind. Code § 23-14-54-5 — Indiana Code / Title 23 / Article 14 / Chapter 54 / Section 23-14-54-5
Violation of chapter; Class B misdemeanor
Status: in_force

Sec. 5. A person who knowingly violates this chapter commits a Class B misdemeanor.

As added by P.L.52-1997, SEC.28.
Ind. Code § 23-1-26-7 — Indiana Code / Title 23 / Article 1 / Chapter 26 / Section 23-1-26-7
Issuance of shares without certificates
Status: in_force

Sec. 7. (a) Unless the articles of incorporation or bylaws provide otherwise, the board of directors of a corporation may authorize the issue of some or all of the shares of any or all of its classes or series without certificates. The authorization does not affect shares already represented by certificates until they are surrendered to the corporation.

(b) Within a reasonable time after the issue or transfer of shares without certificates, the corporation shall send the shareholder a written statement of the information required on certificates by sections 6(b) and 6(c) of this chapter, and, if applicable, section 8 of this chapter.

As added by P.L.149-1986, SEC.10.
Ind. Code § 23-2.5-3-2 — Indiana Code / Title 23 / Article 2.5 / Chapter 3 / Section 23-2.5-3-2
Mortgage loan originator license required
Status: in_force

Sec. 2. (a) An individual may not act as a manager in Indiana unless the individual first obtains a:

(1) unique identifier from the Nationwide Multistate Licensing System; and

(2) license under this article.

(b) An individual may not act as a mortgage loan originator in Indiana unless the individual first obtains a:

(1) unique identifier from the Nationwide Multistate Licensing System; and

(2) mortgage loan originator license from the commissioner.

(c) An individual desiring to act as a manager or mortgage loan originator on behalf of a loan broker shall apply to the commissioner for a mortgage loan originator license under this article.

As added by P.L.175-2019, SEC.2. Amended by P.L.89-2024, SEC.8.
Ind. Code § 23-17-10-1 — Indiana Code / Title 23 / Article 17 / Chapter 10 / Section 23-17-10-1
Annual and regular membership meetings; meetings and participation by remote communication
Status: in_force

Sec. 1. (a) A corporation with members must hold a membership meeting annually at a time stated in or fixed in accordance with the bylaws.

(b) A corporation with members may hold regular membership meetings at the times stated in or fixed in accordance with the bylaws.

(c) Annual and regular membership meetings may be held inside of or outside of Indiana at the place stated in or fixed in accordance with the bylaws.

(d) A corporation's bylaws adopted under this chapter may provide that an annual or regular membership meeting will not be held in any place, but may instead be held solely by means of remote communication. If a place for meeting is not stated in or fixed in accordance with the bylaws, the board of directors may either:

(1) determine the location of the annual or regular membership meeting; or

(2) elect that the meeting will not be held at any place but solely by means of remote communication.

(e) If provided for in the bylaws or authorized by the board of directors, and subject to any guidelines and procedures the board of directors adopts, members not physically present at an annual or regular membership meeting may do the following:

(1) Participate in the annual or regular membership meeting by means of remote communication.

(2) If the conditions under subsection (f) are met, be considered present in person and vote at the annual or regular membership meeting, regardless of whether the meeting is held in person or by means of remote communication.

(f) To conduct an annual or regular membership meeting by means of remote communication, a corporation must do the following:

(1) Implement reasonable measures to verify the identity of each member considered present and permitted to vote at the meeting.

(2) Implement reasonable measures to ensure all members have an opportunity to participate and vote on matters discussed at the meeting, including an opportunity to read or hear the proceedings.

(3) Maintain minutes of the meeting, including a record of any votes cast or actions taken by a member.

(g) At the annual meeting:

(1) the president and chief financial officer or the president's and the chief financial officer's designees shall report on the activities and financial condition of the corporation; and

(2) the members shall consider and act upon other matters as may be raised consistent with the notice requirements of section 5 of this chapter and IC 23-17-11-4(b).

(h) At regular meetings the members shall consider and act upon matters as may be raised consistent with the notice requirements of section 5 of this chapter and IC 23-17-11-4(b).

(i) The failure to hold an annual or a regular meeting at a time stated in or fixed in accordance with a corporation's bylaws does not do any of the following:

(1) Affect the validity of any corporate action.

(2) Work any forfeiture or dissolution of the corporation.

As added by P.L.179-1991, SEC.1. Amended by P.L.206-2021, SEC.7.
Ind. Code § 23-14-49-1 — Indiana Code / Title 23 / Article 14 / Chapter 49 / Section 23-14-49-1
Application of chapter; placement of certain proceeds
Status: in_force

Sec. 1. (a) This chapter does not apply to the proceeds from the sales of burial spaces.

(b) All proceeds received by anyone selling floral tributes, vaults, memorials of any type, or services that:

(1) are to be installed in or provided in a cemetery; but

(2) are not to be delivered or provided until the death of the person or persons for whom the vault, memorial, floral tribute, or service is to be used or provided;

shall be placed in escrow or trust in a separate account and held for the specific purpose intended until the time of burial or completion of the services.

As added by P.L.52-1997, SEC.23.
Ind. Code § 23-1.3-9-2 — Indiana Code / Title 23 / Article 1.3 / Chapter 9 / Section 23-1.3-9-2
Immune from liability for failure to pursue or create general or specific public benefit
Status: in_force

Sec. 2. A benefit corporation is not liable for monetary damages under this article for any failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-1-47-1 — Indiana Code / Title 23 / Article 1 / Chapter 47 / Section 23-1-47-1
Judicial dissolution; when allowable
Status: in_force

Sec. 1. The circuit or superior court may dissolve a corporation:

(1) in a proceeding by the attorney general if it is established that:

(A) the corporation obtained its articles of incorporation through fraud; or

(B) the corporation has continued to exceed or abuse the authority conferred upon it by law;

(2) in a proceeding by a shareholder if it is established that:

(A) the directors are deadlocked in the management of the corporate affairs, the shareholders are unable to break the deadlock, and irreparable injury to the corporation is threatened or being suffered, or the business and affairs of the corporation can no longer be conducted to the advantage of the shareholders generally, because of the deadlock; or

(B) the shareholders are deadlocked in voting power and have failed, for a period that includes at least two (2) consecutive annual meeting dates, to elect successors to directors whose terms have expired;

(3) in a proceeding by a creditor if it is established that:

(A) the creditor's claim has been reduced to judgment, the execution on the judgment returned unsatisfied, and the corporation is insolvent; or

(B) the corporation has admitted in writing that the creditor's claim is due and owing and the corporation is insolvent; or

(4) in a proceeding by the corporation to have its voluntary dissolution continued under court supervision.

As added by P.L.149-1986, SEC.31.
Ind. Code § 23-1-21-2 — Indiana Code / Title 23 / Article 1 / Chapter 21 / Section 23-1-21-2
Articles of incorporation; contents
Status: in_force

Sec. 2. (a) The articles of incorporation must set forth:

(1) a corporate name for the corporation that satisfies the requirements of IC 23-1-23-1 (before its repeal) or IC 23-0.5-3;

(2) the number of shares the corporation is authorized to issue;

(3) the street address of the corporation's initial registered office in Indiana and the name of its initial registered agent at that office; and

(4) the name and address of each incorporator.

(b) The articles of incorporation may set forth:

(1) the names and addresses of the individuals who are to serve as the initial directors;

(2) provisions not inconsistent with law regarding:

(A) the purpose or purposes for which the corporation is organized;

(B) managing the business and regulating the affairs of the corporation;

(C) defining, limiting, and regulating the powers of the corporation, its board of directors, and shareholders;

(D) a par value for authorized shares or classes of shares; and

(E) the imposition of personal liability on shareholders for the debts of the corporation to a specified extent and upon specified conditions; and

(3) any provision that under this article is required or permitted to be set forth in the bylaws.

(c) The articles of incorporation need not set forth any of the corporate powers enumerated in this article.

As added by P.L.149-1986, SEC.5. Amended by P.L.118-2017, SEC.9.
Ind. Code § 23-19-7-7 — Indiana Code / Title 23 / Article 19 / Chapter 7 / Section 23-19-7-7
Award to informant for original information leading to successful enforcement action; commissioner to determine amount; award to be paid from fund; limit on aggregate amount of awards
Status: in_force

Sec. 7. (a) Except as provided in section 9 of this chapter, and subject to subsection (b) and section 8 of this chapter, if:

(1) an informant:

(A) voluntarily provides in writing, and in the form or manner required by the commissioner, original information to the division; and

(B) includes, as part of the writing provided under clause (A), a signed statement indicating that the informant reasonably believes that the act or omission disclosed through the original information provided constitutes a violation of this article; and

(2) the original information provided by the informant leads to the successful enforcement of a judicial or an administrative action under this article;

the commissioner may award an amount, to be determined by the commissioner and paid from the fund, to the informant for the original information provided.

(b) The commissioner may provide an award to one (1) or more informants in any single judicial or administrative proceeding under this article. However, the aggregate amount of the awards in any single judicial or administrative proceeding may not exceed ten percent (10%) of the total monetary sanctions imposed or ordered in the action.

As added by P.L.85-2012, SEC.6.
Ind. Code § 23-17-14-3 — Indiana Code / Title 23 / Article 17 / Chapter 14 / Section 23-17-14-3
Resignation
Status: in_force

Sec. 3. (a) An officer may resign at any time by delivering notice to one (1) of the following:

(1) The board of directors, the chairman of the board of directors, or the secretary of the corporation.

(2) If articles of incorporation or bylaws provide, to another designated officer.

(b) A resignation is effective when the notice is effective unless the notice specifies a later effective date. If:

(1) a resignation is made effective at a later date; and

(2) a corporation accepts the future effective date;

the corporation's board of directors may fill the pending vacancy before the effective date if the board of directors provides that the successor does not take office until the effective date.

(c) A board of directors may remove an officer at any time with or without cause.

(d) An officer who appoints another officer or assistant officer may remove the appointed officer or assistant officer at any time with or without cause.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-16-12-1 — Indiana Code / Title 23 / Article 16 / Chapter 12 / Section 23-16-12-1
Construction and application of article
Status: in_force

Sec. 1. (a) This article shall be applied and construed to effectuate its general purpose.

(b) The rule that statutes in derogation of the common law are to be strictly construed does not apply to this article.

As added by P.L.147-1988, SEC.1.
Ind. Code § 23-5-2-2 — Indiana Code / Title 23 / Article 5 / Chapter 2 / Section 23-5-2-2
Purpose of association
Status: in_force

Sec. 2. Such association may be formed, either on the basis of capital stock or by requiring annual membership fees, for the purpose of maintaining boards of trade, commercial or real estate exchanges, chambers of commerce or other commercial organizations, under such name as the incorporation may see proper to adopt.

Formerly: Acts 1875, c.5, s.2.
Ind. Code § 23-16-1-3 — Indiana Code / Title 23 / Article 16 / Chapter 1 / Section 23-16-1-3
Contribution
Status: in_force

Sec. 3. "Contribution" means any cash, property, services rendered, or a promissory note or other binding obligation to transfer cash or property or to perform services, that a partner transfers to a limited partnership in the capacity of partner.

As added by P.L.147-1988, SEC.1.
Ind. Code § 23-18.1-6-1 — Indiana Code / Title 23 / Article 18.1 / Chapter 6 / Section 23-18.1-6-1
Forming master limited liability company; authority to designate series
Status: in_force

Sec. 1. A master limited liability company is formed by filing articles of organization with the office of the secretary of state. In addition to the requirements established in IC 23-18-2-4, a master limited liability company must state in its articles of organization that it is authorized to designate one (1) or more series.

As added by P.L.170-2016, SEC.19.
Ind. Code § 23-1.3-5-2 — Indiana Code / Title 23 / Article 1.3 / Chapter 5 / Section 23-1.3-5-2
Consideration of interests consistent with other laws
Status: in_force

Sec. 2. The consideration of interests and factors provided in section 1 of this chapter:

(1) does not constitute a violation of IC 23-1-35; and

(2) is in addition to the ability of directors to consider interests and factors under IC 23-1-35-1.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-14-31-39 — Indiana Code / Title 23 / Article 14 / Chapter 31 / Section 23-14-31-39
Simultaneous cremations
Status: in_force

Sec. 39. (a) Except as provided in IC 16-21-11-6 and IC 16-34-3-4, a crematory authority shall not perform the simultaneous cremation of the human remains of more than one (1) individual within the same cremation chamber unless it has obtained the prior written consent of the authorizing agents.

(b) Subsection (a) does not prevent the simultaneous cremation within the same cremation chamber of body parts delivered to the crematory authority from multiple sources, or the use of cremation equipment that contains more than one (1) cremation chamber.

As added by P.L.231-1995, SEC.2. Amended by P.L.213-2016, SEC.28.
Ind. Code § 23-14-73-2 — Indiana Code / Title 23 / Article 14 / Chapter 73 / Section 23-14-73-2
Standards for markers
Status: in_force

Sec. 2. A board of trustees or other governing body or custodian that controls a cemetery shall not refuse to allow the setting up of markers for the graves of deceased members of the armed forces in its grounds if the markers conform to the standard markers furnished by the United States government for marking the graves of deceased members of the armed forces.

As added by P.L.52-1997, SEC.47.
Ind. Code § 23-10-2-1 — Indiana Code / Title 23 / Article 10 / Chapter 2 / Section 23-10-2-1
Acquisition of land; purposes
Status: in_force

Sec. 1. Any persons, congregation, society, church or any grand or subordinate lodge of Free Masons, or Odd Fellows, or Knights of Pythias, or any grand or subordinate chapter, council or encampment of Free Masons, or Odd fellows, or Knights of Pythias, or any temple or division of the Sons or Daughters of Temperance, and any voluntary association for religious, educational, scientific or benevolent purposes may take by purchase, grant or devise lots or tracts of land not exceeding one hundred sixty (160) acres, upon which to erect buildings for religious worship or for such other purposes as will best attain the objects of said several organizations, and, for that purpose, may elect not less than three (3) nor more than nine (9) trustees, who shall possess the power and perform the duties named in this chapter.

Formerly: Acts 1852, 1RS, c.101, s.1; Acts 1895, c.10, s.1. As amended by P.L.136-2018, SEC.133.
Ind. Code § 23-0.6-1.5-5 — Indiana Code / Title 23 / Article 0.6 / Chapter 1.5 / Section 23-0.6-1.5-5
"Articles of conversion"
Status: in_force

Sec. 5. "Articles of conversion" refers to the filing required by IC 23-0.6-4-5.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-17-17-4 — Indiana Code / Title 23 / Article 17 / Chapter 17 / Section 23-17-17-4
Adoption by board of directors without member approval; amendments adopted by incorporators
Status: in_force

Sec. 4. (a) Unless articles of incorporation provide otherwise, a corporation's board of directors may adopt at least one (1) amendment to the corporation's articles without member approval to do the following:

(1) To extend the duration of the corporation that was incorporated at a time when limited duration was required by law.

(2) To delete the names and addresses of the initial directors and incorporators.

(3) To delete the name and address of the initial registered agent or registered office if a statement of change is on file with the secretary of state.

(4) To change the corporate name by substituting the word "corporation", "incorporated", "company", "limited", or the abbreviation "corp.", "inc.", "co.", or "ltd.", for a similar word or abbreviation in the name or by adding, deleting, or changing a geographical attribution to the name.

(5) To delete a mailing address if a biennial report has been filed with the secretary of state.

(6) To include a statement identifying the corporation as a public benefit, mutual benefit, or religious corporation.

(7) To make any other change expressly permitted by this article to be made by director action.

(b) If a corporation has no members, the corporation's incorporators may, until directors have been chosen and then the corporation's board of directors, adopt amendments to the corporation's articles of incorporation subject to any approval required under section 1 of this chapter. The amendment must be approved by a majority of the directors in office or, if the directors have not yet been chosen, by a majority of the incorporators, at the time the amendment is adopted. The corporation shall provide notice of a meeting at which an amendment is to be voted upon. The notice must do the following:

(1) Be in accordance with IC 23-17-15-3.

(2) State that the purpose of the meeting is to consider a proposed amendment to the articles of incorporation.

(3) Contain or be accompanied by a copy or summary of the amendment or state the general nature of the amendment.

As added by P.L.179-1991, SEC.1. Amended by P.L.1-1992, SEC.120; P.L.96-1993, SEC.11; P.L.119-2015, SEC.53.
Ind. Code § 23-10-2-7 — Indiana Code / Title 23 / Article 10 / Chapter 2 / Section 23-10-2-7
By-laws
Status: in_force

Sec. 7. Such society, or the trustees thereof, when organized for that purpose, may establish all necessary by-laws to carry out the objects of its organization.

Formerly: Acts 1852, 1RS, c.101, s.7.
Ind. Code § 23-13-6-1 — Indiana Code / Title 23 / Article 13 / Chapter 6 / Section 23-13-6-1
Election and power of governing body
Status: in_force

Sec. 1. Any university, college, or other institution of learning organized before April 9, 1907, and existing on April 9, 1907, under special enactments of the general assembly of the state of Indiana constituting the charter of the institution, or which is organized on or after April 9, 1907, under the general laws of the state of Indiana, may provide that the board of trustees, or other governing or administrative body thereof may be elected in whole or in part by conferences, synods, presbyteries, or other church or ecclesiastical bodies; in part by graduates of such institution, and that the remainder shall be elected by the board of trustees of the institution, and define the powers of such governing or administrative body, and may further provide for such a system of holding, accounting for, and administering the funds of such institution as will divide such funds into independent classes representing endowment and general funds, with a separate custodian, manager, or treasurer of each of said funds.

Formerly: Acts 1907, c.79, s.1. As amended by P.L.34-1987, SEC.350.
Ind. Code § 23-18-6-4.1 — Indiana Code / Title 23 / Article 18 / Chapter 6 / Section 23-18-6-4.1
Assignee membership; death of sole member; companies existing on or after June 30, 1999
Status: in_force

Sec. 4.1. (a) A limited liability company formed under this article after June 30, 1999, is governed by this section.

(b) Except as otherwise provided in a written operating agreement, if a limited liability company has at least two (2) members, an assignee of an interest may become a member only if the other members unanimously consent. If a limited liability company has only one (1) member, an assignee of the entire interest may become a member:

(1) in accordance with the terms of an agreement between the assignor and the assignee; or

(2) except as otherwise provided in a written operating agreement by a specific reference to this subsection or as otherwise provided in an agreement between the assignor and the assignee, automatically upon the voluntary assignment by the sole member of all of the member's interest to a single assignee that the member consented to at the time of the assignment and that was not affected by foreclosure or other similar legal process.

The consent of a member may be evidenced in any manner specified in writing in an operating agreement, but in the absence of a specification, consent must be evidenced by a written instrument, dated and signed by the member.

(c) If:

(1) a limited liability company has one (1) member;

(2) the member of the limited liability company dies;

(3) the deceased member's interest in the limited liability company is not registered in beneficiary form under IC 32-17-14; and

(4) the limited liability company does not have a written operating agreement that controls or specifies the transfer or other disposition of the deceased member's interest;

the deceased member's interest passes as described in subsection (d).

(d) This subsection applies to the transfer of a deceased member's interest under the circumstances described in subsection (c). Unless otherwise provided in a written operating agreement or a valid disclaimer under IC 32-17.5, the deceased member's interest in a limited liability company passes automatically upon death to:

(1) a legatee identified in the deceased member's will admitted to probate under IC 29-1-7; or

(2) the deceased member's heirs under IC 29-1-2-1 if the deceased member died intestate.

A transfer of an interest under this subsection is subject to IC 29-1-7-23 and does not affect the enforceability of a timely filed claim by a creditor against the estate of the deceased member. A legatee or an heir is automatically admitted as a successor member or a member of the limited liability company under this subsection.

(e) If a personal representative is appointed under IC 29-1-10 for the estate of a deceased member described in subsection (c), the personal representative possesses and may exercise all rights and powers of the deceased member's interest before the interest of the deceased member is distributed to the deceased member's legatees or heirs under this section.

(f) An assignee who becomes a member:

(1) has, to the extent assigned, the rights and powers and is subject to the restrictions and liabilities of a member under the articles of organization, any operating agreement, and this article; and

(2) is liable for any obligations of the member's assignor for unpaid contributions under IC 23-18-5-1 or for any wrongful distributions under IC 23-18-5-7.

However, the assignee is not obligated for liabilities of which the assignee had no knowledge at the time the assignee became a member and that could not be ascertained from a written operating agreement.

(g) Whether or not an assignee of an interest becomes a member, the assignor is not released from the assignor's liability to the limited liability company for unpaid contributions under IC 23-18-5-1 or for any wrongful distributions under IC 23-18-5-7 that are solely a result of the assignment.

(h) Unless otherwise provided in a written operating agreement, a member who assigns the member's entire interest in the limited liability company ceases to be a member or to have the power to exercise any rights of a member.

As added by P.L.269-1999, SEC.10. Amended by P.L.156-2023, SEC.12; P.L.99-2024, SEC.3.
Ind. Code § 23-1-20-18 — Indiana Code / Title 23 / Article 1 / Chapter 20 / Section 23-1-20-18
"Person"
Status: in_force

Sec. 18. "Person" includes individual and entity.

As added by P.L.149-1986, SEC.4.
Ind. Code § 23-5-1-9.1 — Indiana Code / Title 23 / Article 5 / Chapter 1 / Section 23-5-1-9.1
Adoption of provisions of general corporate law
Status: in_force

Sec. 9.1. (a) A business trust, by resolution of the trustees, may adopt a provision of law related to domestic and foreign corporations not listed under section 9 of this chapter.

(b) If a business trust adopts a provision of law under subsection (a), the business trust shall:

(1) file notice of the adoption in the office of the secretary of state; and

(2) record notice of the adoption in the office of the county recorder of the county in which the principal office of the business trust is located.

As added by P.L.226-1989, SEC.5.
Ind. Code § 23-1-47-4 — Indiana Code / Title 23 / Article 1 / Chapter 47 / Section 23-1-47-4
Decree of dissolution; winding up affairs
Status: in_force

Sec. 4. (a) If, after a hearing, the court determines that one (1) or more grounds for judicial dissolution described in section 1 of this chapter exist, it may enter a decree dissolving the corporation and specifying the effective date of the dissolution, and the clerk of the court shall deliver a certified copy of the decree to the secretary of state, who shall file it.

(b) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation's business and affairs in accordance with IC 6-8.1-10-9 and IC 23-1-45-5 and the notification of claimants in accordance with IC 23-1-45-6 and IC 23-1-45-7.

As added by P.L.149-1986, SEC.31. Amended by P.L.73-1988, SEC.3.
Ind. Code § 23-0.6-1.5-10 — Indiana Code / Title 23 / Article 0.6 / Chapter 1.5 / Section 23-0.6-1.5-10
"Converted entity"
Status: in_force

Sec. 10. "Converted entity" means the converting entity as it continues in existence after a conversion.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-14-31-49 — Indiana Code / Title 23 / Article 14 / Chapter 31 / Section 23-14-31-49
Disputes concerning cremated remains; liability for refusing release
Status: in_force

Sec. 49. (a) If a crematory authority is aware of a dispute concerning the release or disposition of cremated remains, the crematory authority shall release the remains to the funeral director or funeral home until the dispute has been resolved.

(b) A crematory authority is not liable for refusing to release or dispose of cremated remains in accordance with this section.

As added by P.L.231-1995, SEC.2.
Ind. Code § 23-2.5-4-13 — Indiana Code / Title 23 / Article 2.5 / Chapter 4 / Section 23-2.5-4-13
Evidence of compliance
Status: in_force

Sec. 13. (a) The commissioner may request evidence of compliance with this chapter at any of the following times:

(1) The time of application for an initial license.

(2) The time of renewal of a license.

(3) Any other time considered necessary by the commissioner.

(b) For purposes of subsection (a), evidence of compliance with this chapter must include a criminal background check, including a national criminal history background check (as defined in IC 10-13-3-12) by the Federal Bureau of Investigation.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-4-1-37 — Indiana Code / Title 23 / Article 4 / Chapter 1 / Section 23-4-1-37
Right to wind up
Status: in_force

Sec. 37. Unless otherwise agreed the partners who have not wrongfully dissolved the partnership or the legal representative of the last surviving partner, not bankrupt, has the right to wind up the partnership affairs: Provided, however, That any partner, his legal representative or his assignee, upon cause shown, may obtain winding up by the court.

Formerly: Acts 1949, c.114, s.37.
Ind. Code § 23-2-2.7-5 — Indiana Code / Title 23 / Article 2 / Chapter 2.7 / Section 23-2-2.7-5
Franchise defined
Status: in_force

Sec. 5. For the purposes of this chapter, franchise means any franchise as defined in IC 23-2-2.5-1, clauses (a) (1) (2) and (3), and any agreement meeting the provisions of IC 23-2-2.5-1, clauses (a) (1) and (2) which relates to the business of selling automobiles and/or trucks and the business of selling gasoline and/or oil primarily for use in vehicles with or without the sale of accessory items.

As added by Acts 1976, P.L.116, SEC.1.
Ind. Code § 23-14-64-3 — Indiana Code / Title 23 / Article 14 / Chapter 64 / Section 23-14-64-3
Payment and use of cash, securities, or other assets
Status: in_force

Sec. 3. (a) If a cemetery association that conveys real estate to a township under this chapter has endowment funds, cash, securities, or other assets, the funds, cash, securities, or other assets shall be paid over to the township trustee when the real estate owned by the association is conveyed to the township.

(b) A township trustee who receives cash, securities, endowment funds, or other assets under subsection (a) may use them only:

(1) to purchase additional land for the cemetery;

(2) to make permanent improvements to the cemetery; or

(3) for the upkeep and maintenance of the cemetery.

As added by P.L.52-1997, SEC.38.
Ind. Code § 23-19-7-2 — Indiana Code / Title 23 / Article 19 / Chapter 7 / Section 23-19-7-2
"Division"
Status: in_force

Sec. 2. As used in this chapter, "division" refers to the securities division of the office of the secretary of state.

As added by P.L.85-2012, SEC.6.
Ind. Code § 23-1.5-4-6 — Indiana Code / Title 23 / Article 1.5 / Chapter 4 / Section 23-1.5-4-6
Articles of acceptance; approval by secretary of state
Status: in_force

Sec. 6. Upon the presentation of the articles of acceptance, the secretary of state, if he finds they conform to the requirements of section 5 of this chapter, shall endorse his approval upon both of the copies of the articles, and, when all fees have been paid as required by law, shall:

(1) file one (1) copy of the articles in his office;

(2) issue a certificate of acceptance; and

(3) return to the corporation the remaining copy of the articles of acceptance, bearing the endorsement of his approval, together with the certificate of acceptance.

As added by P.L.239-1983, SEC.1.
Ind. Code § 23-2.5-1-3 — Indiana Code / Title 23 / Article 2.5 / Chapter 1 / Section 23-2.5-1-3
"Bona fide third party fee"
Status: in_force

Sec. 3. "Bona fide third party fee", with respect to a residential mortgage loan, includes any of the following:

(1) Fees for real estate appraisals. However, if the residential mortgage loan is governed by Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act (12 U.S.C. 3331 through 3352), the fee for an appraisal performed in connection with the loan is not a bona fide third party fee unless the appraisal is performed by a person that is licensed or certified under IC 25-34.1-3-8.

(2) Fees for title examination, abstract of title, title insurance, property surveys, or similar purposes.

(3) Notary and credit report fees.

(4) Fees for the services provided by a loan broker in procuring possible business for a creditor if the fees are paid by the creditor.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-2-2.5-7 — Indiana Code / Title 23 / Article 2 / Chapter 2.5 / Section 23-2-2.5-7
Notice of denial or revocation of exemptions; hearing
Status: in_force

Sec. 7. (a) Upon the entry of a stop order under section 6 of this chapter, the commissioner shall notify the franchisor:

(1) of the entry of the stop order;

(2) of the reasons for the stop order; and

(3) that, upon receipt of a written request, the matter will be set down for hearing to commence within fifteen (15) days after receipt of such request, unless the franchisor consents to a later date.

(b) If no hearing is requested or none is ordered by the commissioner, the stop order is effective until it is modified or vacated by the commissioner.

(c) If a hearing is requested or ordered, the commissioner, after notice and hearing, may modify or vacate the stop order.

Formerly: Acts 1975, P.L.262, SEC.1. As amended by P.L.168-2001, SEC.1.
Ind. Code § 23-18-2-5 — Indiana Code / Title 23 / Article 18 / Chapter 2 / Section 23-18-2-5
Amendment of articles of organization
Status: in_force

Sec. 5. (a) Articles of organization of a limited liability company may be amended by filing articles of amendment of the articles of organization in the office of the secretary of state. The articles of amendment must contain the following:

(1) The name of the limited liability company.

(2) The date the articles of organization were filed.

(3) The amendment to the articles of organization.

(b) Articles of organization of a limited liability company may be amended at any time that the members determine provided that the articles of organization as amended contain only provisions that may be lawfully contained in articles of organization at the time the amendment is made.

As added by P.L.8-1993, SEC.301.
Ind. Code § 23-17-12-6 — Indiana Code / Title 23 / Article 17 / Chapter 12 / Section 23-17-12-6
Staggered terms
Status: in_force

Sec. 6. Articles of incorporation or bylaws may provide for staggering the terms of directors by dividing the total number of directors into groups. The terms of office of groups is not required to be uniform.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-14-36-3 — Indiana Code / Title 23 / Article 14 / Chapter 36 / Section 23-14-36-3
Violation of chapter; Class B misdemeanor
Status: in_force

Sec. 3. A person who knowingly violates this chapter commits a Class B misdemeanor.

As added by P.L.52-1997, SEC.10.
Ind. Code § 23-6-3-2 — Indiana Code / Title 23 / Article 6 / Chapter 3 / Section 23-6-3-2
Objects
Status: in_force

Sec. 2. The objects of the society are:

(1) the collection and preservation of all materials calculated to shed light on the natural, civil, and political history of Indiana;

(2) the publication and circulation of historical documents;

(3) the promotion of useful knowledge; and

(4) the friendly and profitable intercourse of such citizens as are disposed to promote these ends.

Formerly: Acts 1831, c.34, s.1.5; Acts 1978, P.L.152, SEC.1. As added by Acts 1982, P.L.146, SEC.1.
Ind. Code § 23-1-33-4 — Indiana Code / Title 23 / Article 1 / Chapter 33 / Section 23-1-33-4
Election of directors by classes of shares
Status: in_force

Sec. 4. If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of one (1) or more authorized classes of shares. Each class (or classes) of shares entitled to elect one (1) or more directors is a separate voting group for purposes of the election of directors.

As added by P.L.149-1986, SEC.17.
Ind. Code § 23-14-39-3 — Indiana Code / Title 23 / Article 14 / Chapter 39 / Section 23-14-39-3
Vested rights of spouse of grantee; effect of dissolution of marriage
Status: in_force

Sec. 3. (a) If the grantee of a burial plot containing more than one (1) interment, entombment, or inurnment space is married at the time of the grant of the burial plot, the spouse of the grantee has a vested right of interment, entombment, or inurnment of the spouse's remains in the burial plot, unless the terms of the grant are inconsistent with burial rights of the grantee's spouse.

(b) If:

(1) a burial plot containing more than one (1) interment, entombment, or inurnment space is granted; and

(2) the grantee becomes married after the grant of the burial plot;

the grantee's spouse has a vested right of interment, entombment, or inurnment in the plot if more than one (1) interment, entombment, or inurnment space in the plot remains unoccupied when the individual becomes the spouse of the grantee.

(c) No transfer or other action of a grantee referred to in subsection (a) or (b) divests the grantee's spouse of the vested right of interment, entombment, or inurnment recognized in subsection (a) or (b) unless:

(1) the spouse joins in the transfer or other action; or

(2) the written consent of the spouse is endorsed on or attached to the transfer or other action.

(d) A final dissolution of marriage decree between a grantee referred to in subsection (a) or (b) and the grantee's spouse terminates the spouse's vested right of interment, entombment, or inurnment recognized in subsection (a) or (b) unless the dissolution of marriage decree provides otherwise.

As added by P.L.52-1997, SEC.13.
Ind. Code § 23-19-4.3-7 — Indiana Code / Title 23 / Article 19 / Chapter 4.3 / Section 23-19-4.3-7
Reporting completion of investment adviser representative continuing education requirements
Status: in_force

Sec. 7. An authorized provider shall report the completion of an investment adviser representative's applicable investment adviser representative continuing education requirements to FINRA not more than thirty (30) days after the investment adviser representative completes the applicable investment adviser representative continuing education requirements.

As added by P.L.41-2026, SEC.7.
Ind. Code § 23-0.5-7-6 — Indiana Code / Title 23 / Article 0.5 / Chapter 7 / Section 23-0.5-7-6
Disclosure of information
Status: in_force

Sec. 6. Interrogatories propounded by the secretary of state and the answers received are not open to public inspection. The secretary of state may not disclose any facts or information obtained from the interrogatories unless:

(1) the secretary of state's official duty requires the information to be made public; or

(2) the interrogatories or the answers received are required for evidence in a criminal proceeding or in any other action or proceeding by or against the state of Indiana.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-0.5-1.5-8 — Indiana Code / Title 23 / Article 0.5 / Chapter 1.5 / Section 23-0.5-1.5-8
"Entity"
Status: in_force

Sec. 8. (a) "Entity" means:

(1) a business corporation;

(2) a nonprofit corporation;

(3) a general partnership, including a limited liability partnership;

(4) a limited partnership; or

(5) a limited liability company.

(b) The term does not include:

(1) an individual;

(2) a business trust, a trust with a predominately donative purpose, or a charitable trust;

(3) an association or relationship that:

(A) is not listed in subsection (a); and

(B) is not a partnership under the rules stated in IC 23-4-1-7 or a similar provision of the law of another jurisdiction;

(4) a decedent's estate;

(5) a government or a governmental subdivision, agency, or

instrumentality; or

(6) any other person that has:

(A) a legal existence separate from any interest holder of that person; or

(B) the power to acquire an interest in real property in its own name.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-2-6-22 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-22
Rules; orders
Status: in_force

Sec. 22. The commissioner may adopt rules and issue orders to do the following:

(1) Prescribe terms and conditions of all transactions and contracts that:

(A) are covered by this chapter; and

(B) are not within the exclusive jurisdiction of the Commodity Futures Trading Commission, as granted by the Commodity Exchange Act.

(2) Exempt persons from this chapter.

(3) Implement the provisions of this chapter for the protection of purchasers and sellers of commodities.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-0.6-3-0.5 — Indiana Code / Title 23 / Article 0.6 / Chapter 3 / Section 23-0.6-3-0.5
Limitations on application
Status: in_force

Sec. 0.5. This chapter does not apply to nonprofit corporations.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-2-2.7-4 — Indiana Code / Title 23 / Article 2 / Chapter 2.7 / Section 23-2-2.7-4
Action to recover damages or reform franchise agreement
Status: in_force

Sec. 4. Any franchisee who is a party to a franchise agreement entered into or renewed after July 1, 1976 which contains any provision set forth in Section 1 of this chapter or who is injured by an unfair act or practice set forth in Section 2 of this chapter may bring an action to recover damages, or reform the franchise agreement.

As added by Acts 1976, P.L.116, SEC.1.
Ind. Code § 23-1-33-6 — Indiana Code / Title 23 / Article 1 / Chapter 33 / Section 23-1-33-6
Staggered terms
Status: in_force

Sec. 6. (a) The articles of incorporation or the bylaws may provide for staggering their terms by dividing the total number of directors into either:

(1) two (2) groups, with each group containing one-half (1/2) of the total, as near as may be; or

(2) if there are more than two (2) directors, three (3) groups, with each group containing one-third (1/3) of the total, as near as may be.

(b) In the event that terms are staggered under subsection (a), the terms of directors in the first group expire at the first annual shareholders' meeting after their election, the terms of the second group expire at the second annual shareholders' meeting after their election, and the terms of the third group, if any, expire at the third annual shareholders' meeting after their election. At each annual shareholders' meeting held thereafter, directors shall be chosen for a term of two (2) years or three (3) years, as the case may be, to succeed those whose terms expire.

(c) A corporation that has a class of voting shares registered with the Securities and Exchange Commission under Section 12 of the Securities Exchange Act of 1934 shall provide for staggering the terms of directors in accordance with this section unless, not later than thirty (30) days after the later of:

(1) July 1, 2009; or

(2) the time when the corporation's voting shares are registered with the Securities and Exchange Commission under Section 12 of the Securities Exchange Act of 1934;

the board of directors of the corporation adopts a bylaw expressly electing not to be governed by this subsection. A public corporation governed by this article on July 1, 2021, may elect not to be governed by this subsection if the board of directors of the public corporation adopts a bylaw expressly electing not to be governed by this subsection. An election not to be governed by this subsection may be rescinded by a subsequent action of the board of directors unless the original articles of incorporation contain a provision expressly electing not to be governed by this subsection.

(d) If the board fails to provide for the staggering of the terms of directors as required by subsection (c), the board must be staggered as follows:

(1) The first group comprises one-third (1/3) of the directors or one-third (1/3) of the directors rounded to the nearest higher whole number if the number of directors is not divisible by three (3) without any remaining.

(2) The second group comprises one-third (1/3) of the directors or one-third (1/3) of the directors rounded to the nearest higher whole number if the number of directors is not divisible by three (3) without two (2) remaining.

(3) The third group comprises one-third (1/3) of the directors or one-third (1/3) of the directors rounded to the nearest lower whole number if the number of directors is not divisible by three (3) without any remaining.

The directors shall be placed into the groups established by this subsection alphabetically by last name.

As added by P.L.149-1986, SEC.17. Amended by P.L.107-1987, SEC.9; P.L.277-2001, SEC.5; P.L.133-2009, SEC.24; P.L.206-2021, SEC.5; P.L.9-2022, SEC.42.
Ind. Code § 23-0.6-1.5-16 — Indiana Code / Title 23 / Article 0.6 / Chapter 1.5 / Section 23-0.6-1.5-16
"Interest holder liability"
Status: in_force

Sec. 16. "Interest holder liability" means:

(1) personal liability for a liability of an entity that is imposed on a person:

(A) solely by reason of the status of the person as an interest holder; or

(B) by the organic rules of the entity which make one (1) or more specified interest holders liable in their capacity as interest holders for all or specified liabilities of the entity; or

(2) an obligation of an interest holder under the organic rules of an entity to contribute to the entity.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-18-1-13 — Indiana Code / Title 23 / Article 18 / Chapter 1 / Section 23-18-1-13
"Majority in interest of the members"
Status: in_force

Sec. 13. "Majority in interest of the members" means the members who have made more than fifty percent (50%) of the agreed value, as stated in the records of the limited liability company, of the total contributions made by all members, to the extent that the contributions have not been previously returned.

As added by P.L.8-1993, SEC.301.
Ind. Code § 23-0.5-5-4 — Indiana Code / Title 23 / Article 0.5 / Chapter 5 / Section 23-0.5-5-4
Amended foreign registration statement
Status: in_force

Sec. 4. A registered foreign entity shall deliver to the secretary of state for filing an amendment to its foreign registration statement if there is a change in:

(1) the name of the entity;

(2) the entity's jurisdiction of formation;

(3) an address required by section 3(5) of this chapter; or

(4) the information required by IC 23-0.5-4-3(b).

As added by P.L.118-2017, SEC.5. Amended by P.L.52-2018, SEC.15.
Ind. Code § 23-19-7-4 — Indiana Code / Title 23 / Article 19 / Chapter 7 / Section 23-19-7-4
"Informant"
Status: in_force

Sec. 4. (a) As used in this chapter, "informant" means an individual who provides original information concerning a violation of this article to the division.

(b) The term does not include an individual who is:

(1) a journalist, a reporter, or any other member of the news media if the individual discovers or acquires the original information in the course of investigating or reporting a story, as part of an assignment, or through any other means related to the individual's work for, or in connection with, the news media; or

(2) an employee of the division.

As added by P.L.85-2012, SEC.6.
Ind. Code § 23-2-4-2 — Indiana Code / Title 23 / Article 2 / Chapter 4 / Section 23-2-4-2
Application of chapter
Status: in_force

Sec. 2. This chapter applies to any person who:

(1) enters into a continuing care agreement in Indiana to provide care at a continuing care retirement community located either inside Indiana or outside Indiana;

(2) enters into a continuing care agreement outside Indiana to provide care at a continuing care retirement community located in Indiana;

(3) extends the term of an existing continuing care agreement in Indiana to provide care at a continuing care retirement community located either inside Indiana or outside Indiana;

(4) extends the term of an existing continuing care agreement outside Indiana to provide care at a continuing care retirement community located in Indiana; or

(5) solicits the execution of a continuing care agreement by persons in Indiana.

As added by Acts 1982, P.L.145, SEC.1. Amended by P.L.153-2009, SEC.4.
Ind. Code § 23-0.5-4-10 — Indiana Code / Title 23 / Article 0.5 / Chapter 4 / Section 23-0.5-4-10
Service of process, notice, or demand on entity
Status: in_force

Sec. 10. (a) A represented entity may be served with any process, notice, or demand required or permitted by law by serving its registered agent.

(b) If a represented entity ceases to have a registered agent, or if its registered agent cannot with reasonable diligence be served, the entity may be served by registered or certified mail, return receipt requested, or by similar commercial delivery service, addressed to the entity at the entity's principal office. The address of the principal office of a domestic filing entity or registered foreign entity must be as shown in the entity's most recent biennial report filed by the secretary of state. Service is effective under this subsection on the earliest of:

(1) the date the entity receives the mail or delivery by the commercial delivery service;

(2) the date shown on the return receipt, if signed by the entity; or

(3) five (5) days after its deposit with the United States Postal Service or commercial delivery service, if correctly addressed and with sufficient postage or payment.

(c) If process, notice, or demand cannot be served on an entity under subsection (a) or (b), service may be made by handing a copy to the individual in charge of any regular place of business or activity of the entity if the individual served is not a plaintiff in the action.

(d) Service of process, notice, or demand on a registered agent must be in a written record, but service may be made on a commercial registered agent in other forms, and subject to such requirements, as the agent has stated in its listing under section 4 of this chapter that it will accept.

(e) Service of process, notice, or demand may be made by other means under law other than this article.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-18-4-7 — Indiana Code / Title 23 / Article 18 / Chapter 4 / Section 23-18-4-7
Enforcement of operating agreement; injunctive or other relief
Status: in_force

Sec. 7. (a) A court may enforce an operating agreement by injunction or by granting other relief that the court in its discretion determines to be fair and appropriate in the circumstances.

(b) As an alternative to injunctive or other equitable relief, when the provisions under IC 23-18-9-2 are applicable, the court may order dissolution of the limited liability company.

As added by P.L.8-1993, SEC.301.
Ind. Code § 23-19-2-5 — Indiana Code / Title 23 / Article 19 / Chapter 2 / Section 23-19-2-5
Rules
Status: in_force

Sec. 5. The commissioner may adopt rules under IC 4-22-2 to implement this chapter.

As added by P.L.106-2014, SEC.5. Amended by P.L.93-2024, SEC.168.
Ind. Code § 23-2.5-1-30 — Indiana Code / Title 23 / Article 2.5 / Chapter 1 / Section 23-2.5-1-30
"Real estate appraiser"
Status: in_force

Sec. 30. "Real estate appraiser" means a person who:

(1) is licensed as a real estate broker under IC 25-34.1 and performs real estate appraisals within the scope of the person's license;

(2) holds a real estate appraiser license or certificate issued under IC 25-34.1-3-8; or

(3) otherwise performs real estate appraisals in Indiana.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-1-43-24 — Indiana Code / Title 23 / Article 1 / Chapter 43 / Section 23-1-43-24
Interested shareholder on January 7, 1986; application of chapter
Status: in_force

Sec. 24. This chapter does not apply to any business combination with an interested shareholder who was an interested shareholder on January 7, 1986.

As added by P.L.149-1986, SEC.27.
Ind. Code § 23-14-65-13 — Indiana Code / Title 23 / Article 14 / Chapter 65 / Section 23-14-65-13
Notice of proposed transfer of management and control; hearing
Status: in_force

Sec. 13. (a) Before adopting an ordinance transferring its powers and duties over a cemetery under section 9, 10, or 11 of this chapter, the legislative body of a municipality must first give notice of its intention by notice published once each week for two (2) weeks in accordance with IC 5-3-1. The notice must announce a hearing at which the legislative body will hear any objections by any taxpayer or owner of a lot in the cemeteries.

(b) The hearing referred to in subsection (a) must:

(1) be set for a date at least two (2) weeks after the first publication of the notice;

(2) be held at a designated location; and

(3) provide all taxpayers or owners of lots in the cemeteries an opportunity to be heard.

(c) The legislative body shall give careful consideration to the views of the lot owners and taxpayers as expressed at the hearing referred to in subsection (a). Not less than five (5) days after the hearing, the legislative body shall adopt or defeat the ordinance under which its powers and duties over a cemetery would be transferred.

(d) If the ordinance referred to in subsection (c) is adopted, all papers and documents appropriate for the transfer of the management and control of the property or properties must be executed in behalf of the municipality by:

(1) the executive and clerk or clerk-treasurer of the municipality; and

(2) the agents of the cemetery.

As added by P.L.52-1997, SEC.39.
Ind. Code § 23-2-2.5-8 — Indiana Code / Title 23 / Article 2 / Chapter 2.5 / Section 23-2-2.5-8
Determination of exemption; request; fee; notice; hearing; order
Status: in_force

Sec. 8. (a) The commissioner may determine whether any proposed offer or sale is entitled to an exemption. However, the commissioner may decline to exercise that authority as to any such offer or sale. Any interested party desiring the commissioner to exercise the authority to determine whether a proposed offer or sale is entitled to an exemption shall submit to the commissioner the following:

(1) A verified statement of all material facts relating to the proposed offer or sale.

(2) Documentation demonstrating that the requirements for exemption under sections 3, 4, and 5 of this chapter, and any rules adopted under those sections, are met.

(3) A written request for a ruling as to the particular exemption claimed.

(4) A filing fee of fifty dollars ($50.00).

(b) After such notice to interested parties as the commissioner deems proper and after a hearing, if any, the commissioner may enter an order finding the proposed offer or sale entitled or not entitled to the exemption claimed. Any order so entered, unless an appeal be taken therefrom in the manner prescribed in this chapter is binding upon the commissioner and upon all interested parties if the proposed offer or sale of a franchise when consummated or issued conforms in every relevant and material particular with the facts set forth in the verified statement submitted.

Formerly: Acts 1975, P.L.262, SEC.1. As amended by P.L.205-2021, SEC.1.
Ind. Code § 23-19-5-2 — Indiana Code / Title 23 / Article 19 / Chapter 5 / Section 23-19-5-2
Unlawful practices; investment advisers and investment adviser representatives; investment advisory contract
Status: in_force

Sec. 2. (a) It is unlawful for a person that advises others for compensation, either directly or indirectly or through publications or writings, as to the value of securities or the advisability of investing in, purchasing, or selling securities or that, for compensation and as part of a regular business, issues or promulgates analyses or reports relating to securities, or that receives compensation to solicit, offer, or negotiate for the sale of or for selling investment advice:

(1) to employ a device, scheme, or artifice to defraud another person; or

(2) to engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.

(b) A rule adopted under this article may define an act, practice, or course of business of an investment adviser or an investment adviser representative, other than a supervised person of a federal covered investment adviser, as fraudulent, deceptive, or manipulative, and prescribe means reasonably designed to prevent investment advisers and investment adviser representatives, other than supervised persons of a federal covered investment adviser, from engaging in acts, practices, and courses of business defined as fraudulent, deceptive, or manipulative.

(c) A rule adopted under this article may specify the contents of an investment advisory contract entered into, extended, or renewed by an investment adviser.

As added by P.L.27-2007, SEC.23.
Ind. Code § 23-1-53-4 — Indiana Code / Title 23 / Article 1 / Chapter 53 / Section 23-1-53-4
Repealed
Status: repealed

As added by P.L.228-1995, SEC.12. Repealed by P.L.118-2017, SEC.27.
Ind. Code § 23-2-4-10 — Indiana Code / Title 23 / Article 2 / Chapter 4 / Section 23-2-4-10
Conditions of registration; deposit of entrance and refurbishment fees into escrow account; limitations
Status: in_force

Sec. 10. (a) Except as provided by section 11 of this chapter, the commissioner shall require, as a condition of registration, that:

(1) the provider establish an interest-bearing escrow account with a bank, trust company, or other escrow agent approved by the commissioner; and

(2) any entrance fees received by the provider prior to the date the resident is permitted to occupy the living unit in the continuing care retirement community be placed in the escrow account, subject to release as provided by subsection (b).

(b) If the entrance fee gives the resident the right to occupy a living unit that has been previously occupied, the entrance fee and any income earned thereon shall be released to the provider when the living unit is first occupied by the new resident. If the entrance fee applies to a living unit that has not been previously occupied by any resident, the entrance fee and any income earned thereon shall be released to the provider when the commissioner is satisfied that:

(1) aggregate entrance fees received or receivable by the provider pursuant to executed continuing care agreements, plus:

(A) anticipated proceeds of any first mortgage loan or other long term financing commitment; and

(B) funds from other sources in the actual possession of the provider;

are equal to at least fifty percent (50%) of the aggregate cost of constructing, purchasing, equipping, and furnishing the continuing care retirement community and equal to at least fifty percent (50%) of the estimate of funds necessary to fund startup losses of the continuing care retirement community, as reported under section 4(12) of this chapter; and

(2) a commitment has been received by the provider for any permanent mortgage loan or other long term financing described in the statement of anticipated source and application of funds to be used in the purchase or construction of the continuing care retirement community under section 4(12) of this chapter, and any conditions of the commitment prior to disbursement of funds thereunder, other than completion of the construction or closing of the purchase of the continuing care retirement community, have been substantially satisfied.

(c) If the funds in an escrow account under this section and any interest earned thereon are not released within the time provided by this section or by rules adopted by the commissioner, then the funds shall be returned by the escrow agent to the persons who made the payment to the provider.

(d) An entrance fee held in escrow shall be returned by the escrow agent to the person who paid the fee in the following instances:

(1) At the election of the person who paid the fee, at any time before the fee is released to the provider under subsection (b).

(2) Upon receipt by the escrow agent of notice from the provider that the person is entitled to a refund of the entrance fee.

(e) This section does not require a provider to place a nonrefundable application fee charged to prospective residents in escrow.

(f) A provider is not required to place a refurbishment fee of a prospective resident in escrow if a continuing care agreement provides that the prospective resident:

(1) will occupy the living unit within sixty (60) days after the refurbishment fee is paid; and

(2) will receive a refund of any portion of the refurbishment fee not expended for refurbishment if the continuing care agreement is cancelled before occupancy.

As added by Acts 1982, P.L.145, SEC.1. Amended by P.L.234-1985, SEC.3; P.L.153-2009, SEC.10.
Ind. Code § 23-1.3-4-1 — Indiana Code / Title 23 / Article 1.3 / Chapter 4 / Section 23-1.3-4-1
General public benefit purpose
Status: in_force

Sec. 1. A benefit corporation shall have a purpose of creating general public benefit. The purpose under this section is in addition to a benefit corporation's purpose under IC 23-1-21-2.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-1.3-3-1 — Indiana Code / Title 23 / Article 1.3 / Chapter 3 / Section 23-1.3-3-1
Incorporation as benefit corporation
Status: in_force

Sec. 1. A benefit corporation shall be incorporated in accordance with IC 23-1-21, except that its articles of incorporation must state that it is a benefit corporation.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-16-3-10 — Indiana Code / Title 23 / Article 16 / Chapter 3 / Section 23-16-3-10
Delivery of certificates to limited partners
Status: in_force

Sec. 10. The general partners shall promptly deliver or mail a copy of the certificate of limited partnership filed with the secretary of state under section 7 of this chapter to each limited partner, unless the partnership agreement provides otherwise.

As added by P.L.147-1988, SEC.1. Amended by P.L.118-2017, SEC.70.
Ind. Code § 23-14-33-19 — Indiana Code / Title 23 / Article 14 / Chapter 33 / Section 23-14-33-19
"Financial institution"
Status: in_force

Sec. 19. "Financial institution" means a state or national:

(1) bank;

(2) bank and trust company;

(3) trust company;

(4) savings bank; or

(5) savings association;

that maintains a principal place of business in Indiana and is qualified to serve as a trustee.

As added by P.L.52-1997, SEC.7. Amended by P.L.79-1998, SEC.25.
Ind. Code § 23-19-7-1 — Indiana Code / Title 23 / Article 19 / Chapter 7 / Section 23-19-7-1
"Commissioner"
Status: in_force

Sec. 1. As used in this chapter, "commissioner" refers to the securities commissioner appointed by the secretary of state under IC 23-19-6-1(a).

As added by P.L.85-2012, SEC.6.
Ind. Code § 23-18-1-10 — Indiana Code / Title 23 / Article 18 / Chapter 1 / Section 23-18-1-10
"Interest"
Status: in_force

Sec. 10. "Interest" means a member's economic rights in the limited liability company, including the member's share of the profits and losses of the limited liability company and the right to receive distributions from the limited liability company.

As added by P.L.8-1993, SEC.301.
Ind. Code § 23-1-34-3 — Indiana Code / Title 23 / Article 1 / Chapter 34 / Section 23-1-34-3
Notice of meetings
Status: in_force

Sec. 3. (a) Unless the articles of incorporation or bylaws provide otherwise, regular meetings of the board of directors may be held without notice of the date, time, place, or purpose of the meeting.

(b) Unless the articles of incorporation or bylaws provide for a longer or shorter period, special meetings of the board of directors must be preceded by at least two (2) days notice of the date, time, and place of the meeting. The notice need not describe the purpose of the special meeting unless required by the articles of incorporation or bylaws.

As added by P.L.149-1986, SEC.18.
Ind. Code § 23-18-1-6 — Indiana Code / Title 23 / Article 18 / Chapter 1 / Section 23-18-1-6
"Corporation"
Status: in_force

Sec. 6. "Corporation" means a domestic corporation or a foreign corporation (as defined in either IC 23-0.5 or IC 23-17).

As added by P.L.8-1993, SEC.301. Amended by P.L.156-2023, SEC.10.
Ind. Code § 23-14-34-8 — Indiana Code / Title 23 / Article 14 / Chapter 34 / Section 23-14-34-8
Defective or incomplete surveys or plats
Status: in_force

Sec. 8. If:

(1) the owner of a cemetery has recorded an accurate survey and plat of a part of its property in which it has:

(A) granted or sold burial rights for at least thirty (30) years; and

(B) actually managed and controlled the land as a cemetery for at least thirty (30) years; but

(2) the survey or plat is defective and incomplete because of a failure to comply with the formalities required by law in force at the time of the recording;

the recorded survey and plat are considered to comply fully with the law as of July 1, 1997.

As added by P.L.52-1997, SEC.8.
Ind. Code § 23-1-20-30 — Indiana Code / Title 23 / Article 1 / Chapter 20 / Section 23-1-20-30
Persons or entities constituting one shareholder
Status: in_force

Sec. 30. (a) For purposes of this article, each of the following, identified as a shareholder in a corporation's current record of shareholders, constitutes one (1) shareholder:

(1) Three (3) or fewer coowners. However, if there are four (4) or more coowners, each coowner shall be counted as a shareholder.

(2) A corporation, limited liability company, partnership, trust, estate, or other entity.

(3) The trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account.

(b) For purposes of this article, shareholdings registered in substantially similar names constitute one (1) shareholder if it is reasonable to believe that the names represent the same person.

As added by P.L.149-1986, SEC.4. Amended by P.L.8-1993, SEC.302.
Ind. Code § 23-4-1-48 — Indiana Code / Title 23 / Article 4 / Chapter 1 / Section 23-4-1-48
Repealed
Status: repealed

As added by P.L.230-1995, SEC.13. Repealed by P.L.34-1997, SEC.27.
Ind. Code § 23-13-20-3 — Indiana Code / Title 23 / Article 13 / Chapter 20 / Section 23-13-20-3
Location of university
Status: in_force

Sec. 3. The university shall be located at or near the city of Evansville, Vanderburgh County, Indiana.

As added by P.L.1-1989, SEC.49.
Ind. Code § 23-20-1-4 — Indiana Code / Title 23 / Article 20 / Chapter 1 / Section 23-20-1-4
"Out-of-pocket loss"
Status: in_force

Sec. 4. As used in this chapter, "out-of-pocket loss" means an amount equal to the amount of restitution ordered under any of the following:

(1) A final court order.

(2) A final administrative order.

As added by P.L.114-2010, SEC.12.
Ind. Code § 23-0.6-1-2 — Indiana Code / Title 23 / Article 0.6 / Chapter 1 / Section 23-0.6-1-2
Application of law; limitations; relation to other laws
Status: in_force

Sec. 2. (a) Unless displaced by particular provisions of this article, the principles of law and equity supplement this article.

(b) This article does not authorize an act prohibited by, and does not affect the application or requirements of, law other than this article.

(c) A transaction effected under this article may not create or impair any right or obligation on the part of a person under a provision of the law of Indiana other than this article relating to a change in control, takeover, business combination, control share acquisition, or similar transaction involving a domestic merging, acquired, converting, or domesticating corporation unless:

(1) if the corporation does not survive the transaction, the transaction satisfies any requirements of the provision; or

(2) if the corporation survives the transaction, the approval of the plan is by a vote of the shareholders or directors which would be sufficient to create or impair the right or obligation directly under the provision.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-1.3-7-4 — Indiana Code / Title 23 / Article 1.3 / Chapter 7 / Section 23-1.3-7-4
No duty to beneficiary
Status: in_force

Sec. 4. An officer does not have a duty to a person that is a beneficiary of the general public benefit purpose or a specific public benefit purpose of a benefit corporation arising from the status of the person as a beneficiary.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-0.6-2-2 — Indiana Code / Title 23 / Article 0.6 / Chapter 2 / Section 23-0.6-2-2
Plan of merger; contents
Status: in_force

Sec. 2. (a) A domestic entity may become a party to a merger under this chapter by approving a plan of merger. The plan must be in a record and contain:

(1) as to each merging entity, its name, jurisdiction of formation, and type of entity;

(2) the manner of converting the interests in each party to the merger into interests, securities, obligations, money, other property, rights to acquire interests or securities, or any combination of the foregoing;

(3) any proposed amendments to the surviving entity's:

(A) public organic record, if any; and

(B) private organic rules that are, or are proposed to be, in a record;

(4) the other terms and conditions of the merger;

(5) any other provision required by the law of a merging entity's jurisdiction of formation or the organic rules of a merging entity;

(6) if a partnership is to be the surviving entity, the names and business addresses of the general partners of the surviving entity; and

(7) if a limited liability company is to be the surviving entity and management of the limited liability company is vested in one (1) or more managers, the names and business addresses of the managers.

(b) In addition to the requirements of subsection (a), a plan of merger may contain any other provision not prohibited by law.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-14-76-1 — Indiana Code / Title 23 / Article 14 / Chapter 76 / Section 23-14-76-1
Application of chapter
Status: in_force

Sec. 1. This chapter does not apply to a cemetery owned by a county or a township. However, if a cemetery owned by a county or township is sold to a private entity, the purchaser is subject to this chapter.

As added by P.L.52-1997, SEC.50.
Ind. Code § 23-17-2-21 — Indiana Code / Title 23 / Article 17 / Chapter 2 / Section 23-17-2-21
"Principal office"
Status: in_force

Sec. 21. "Principal office" has the meaning set forth in IC 23-0.5-1.5-29.

As added by P.L.179-1991, SEC.1. Amended by P.L.119-2015, SEC.49; P.L.118-2017, SEC.86; P.L.96-2025, SEC.9.
Ind. Code § 23-14-77-1 — Indiana Code / Title 23 / Article 14 / Chapter 77 / Section 23-14-77-1
Disclosure requirement
Status: in_force

Sec. 1. A person who sells or otherwise furnishes to another person a vault that:

(1) will be used to encase the remains of a deceased individual; and

(2) is not airtight and watertight;

shall inform the other person in writing that the vault is not airtight and watertight before the person sells or otherwise furnishes the vault to the other person.

As added by P.L.61-2008, SEC.3.
Ind. Code § 23-14-46-1 — Indiana Code / Title 23 / Article 14 / Chapter 46 / Section 23-14-46-1
Powers of owner
Status: in_force

Sec. 1. (a) Subject to subsection (b), the owner of a cemetery:

(1) may make, adopt, and enforce rules and regulations:

(A) for the use, care, control, management, restriction, and protection of all parts and subdivisions of the cemetery;

(B) for restricting, limiting, and regulating the use of all property within the cemetery;

(C) for regulating the care of plants or shrubs within the grounds and preventing the introduction of certain types of plants or shrubs;

(D) for regulating the conduct of persons and preventing improper assemblages in the cemetery; and

(E) for all other purposes considered necessary by the owner of the cemetery for the proper conduct of the business of the cemetery and the protection and safeguarding of the premises and the principles, plans, and ideals on which the cemetery was organized; and

(2) may periodically amend, add to, revise, change, modify, or abolish the rules and regulations.

(b) A cemetery to which this chapter applies may not adopt a rule or regulation in conflict with IC 23-14-33 through IC 23-14-57, except as expressly permitted by IC 23-14-39, IC 23-14-40, or IC 23-14-41.

As added by P.L.52-1997, SEC.20.
Ind. Code § 23-15-12-7 — Indiana Code / Title 23 / Article 15 / Chapter 12 / Section 23-15-12-7
Proceedings to dissolve a business entity; notice to business entity; opportunity to correct grounds for dissolution or demonstrate grounds for dissolution do not exist; activities of a dissolved business
Status: in_force

Sec. 7. (a) This section does not apply to an entity described in section 1 of this chapter.

(b) The secretary of state shall commence a proceeding under this section to administratively dissolve a business entity if:

(1) the name of the business entity contains the term:

(A) "cooperative"; or

(B) "co-op";

or a derivative of a term listed in clauses (A) and (B); and

(2) the secretary of state has been notified by the department of agriculture of the determination that the business entity is in violation of section 3 of this chapter.

(c) If the secretary of state commences an administrative dissolution under subsection (b), the secretary of state shall serve the business entity with written notice of the determination made by the department of agriculture that the business entity is in violation of section 3 of this chapter. The notice must inform the business entity that it must do either of the following not later than sixty (60) days after the date service of the notice is perfected:

(1) Correct the grounds for dissolution.

(2) Demonstrate to the reasonable satisfaction of the department of agriculture that the grounds for dissolution do not exist.

The secretary of state shall, at the same time notice is sent to the business entity, provide a copy of the notice to the department of agriculture.

(d) If a business entity that receives a notice under subsection (c) does not:

(1) correct the grounds for dissolution; or

(2) demonstrate to the reasonable satisfaction of the department of agriculture that the grounds for dissolution do not exist;

at any time during the period prescribed by the notice, the department of agriculture shall notify the secretary of state in writing of the continuing violation. After receiving the written notice from the department of agriculture of the continuing violation, the secretary of state shall administratively dissolve the business entity by signing a certificate of dissolution that recites the grounds for dissolution and the effective date of the dissolution. The secretary of state shall file the original certificate of dissolution and serve a copy of the certificate of dissolution on the business entity.

(e) A business entity administratively dissolved under this section may carry out only those activities necessary to appeal the administrative dissolution or to wind up and liquidate the business entity's affairs.

(f) Administrative dissolution under this section is in addition to any penalties imposed under IC 6-2.5-8-7.

As added by P.L.97-2017, SEC.3.
Ind. Code § 23-1-32-4 — Indiana Code / Title 23 / Article 1 / Chapter 32 / Section 23-1-32-4
Committee of disinterested directors or persons
Status: in_force

Sec. 4. (a) Unless prohibited by the articles of incorporation, the board of directors may establish a committee consisting of three (3) or more disinterested directors or other disinterested persons to determine:

(1) whether the corporation has a legal or equitable right or remedy; and

(2) whether it is in the best interests of the corporation to pursue that right or remedy, if any, or to dismiss a proceeding that seeks to assert that right or remedy on behalf of the corporation.

(b) In making a determination under subsection (a), the committee is not subject to the direction or control of or termination by the board. A vacancy on the committee may be filled by the majority of the remaining members by selection of another disinterested director or other disinterested person.

(c) If the committee determines that pursuit of a right or remedy through a derivative proceeding or otherwise is not in the best interests of the corporation, the merits of that determination shall be presumed to be conclusive against any shareholder making a demand or bringing a derivative proceeding with respect to such right or remedy, unless such shareholder can demonstrate that:

(1) the committee was not "disinterested" within the meaning of this section; or

(2) the committee's determination was not made after an investigation conducted in good faith.

(d) For purposes of this section, a director or other person is "disinterested" if the director or other person:

(1) has not been made a party to a derivative proceeding seeking to assert the right or remedy in question, or has been made a party but only on the basis of a frivolous or insubstantial claim or for the sole purpose of seeking to disqualify the director or other person from serving on the committee;

(2) is able under the circumstances to render a determination in the best interests of the corporation; and

(3) is not an officer, employee, or agent of the corporation or of a related corporation. However, an officer, employee, or agent of the corporation or a related corporation who meets the standards of subdivisions (1) and (2) shall be considered disinterested in any case in which the right or remedy under scrutiny is not assertable against a director or officer of the corporation or the related corporation.

As added by P.L.149-1986, SEC.16.
Ind. Code § 23-17-20-1 — Indiana Code / Title 23 / Article 17 / Chapter 20 / Section 23-17-20-1
Disposal and encumbrance of property
Status: in_force

Sec. 1. (a) A corporation may, on the terms and conditions and for the consideration determined by the board of directors, do the following:

(1) Sell, lease, exchange, or otherwise dispose of all, or substantially all, of the corporation's property in the usual and regular course of the corporation's activities.

(2) Mortgage, pledge, dedicate to the repayment of indebtedness, with or without recourse, or otherwise encumber the corporation's property whether or not in the usual and regular course of the corporation's activities.

(b) Unless articles of incorporation require approval of the members or any other person of a transaction described in subsection (a) is not required.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-2-6-13 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-13
"Offer" defined
Status: in_force

Sec. 13. As used in this chapter, "offer" means an offer to sell, offer to purchase, or offer to enter into a commodity contract or commodity option.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-14-65-18 — Indiana Code / Title 23 / Article 14 / Chapter 65 / Section 23-14-65-18
Purchase of property
Status: in_force

Sec. 18. (a) A cemetery board may purchase on behalf of the municipality any other property for cemetery purposes that is located within five (5) miles from the corporate limits of the municipality.

(b) A cemetery board may purchase property that:

(1) adjoins; or

(2) is located conveniently near;

a cemetery that is under the control of the board for additions to the cemetery. The property must be used, held, and managed in the same manner as the adjoining or nearby cemetery or cemeteries, but is subject to the approval of the executive and legislative body of the municipality.

As added by P.L.52-1997, SEC.39.
Ind. Code § 23-5-1-5 — Indiana Code / Title 23 / Article 5 / Chapter 1 / Section 23-5-1-5
Application and filing fees
Status: in_force

Sec. 5. Contemporaneously with the filing in the office of the secretary of state of the instruments required by section 4 of this chapter, domestic and foreign business trusts shall pay to the secretary of state an application fee of twenty dollars ($20).

Formerly: Acts 1963, c.353, s.5. As amended by P.L.34-1987, SEC.326; P.L.34-1997, SEC.14.
Ind. Code § 23-14-41-1 — Indiana Code / Title 23 / Article 14 / Chapter 41 / Section 23-14-41-1
Application of chapter
Status: in_force

Sec. 1. This chapter applies to all burial rights in:

(1) cemeteries organized or created after June 14, 1939; and

(2) cemeteries that:

(A) were in existence on June 14, 1939; and

(B) do not have a rule or regulation in conflict with this chapter.

As added by P.L.52-1997, SEC.15.
Ind. Code § 23-5-1-6 — Indiana Code / Title 23 / Article 5 / Chapter 1 / Section 23-5-1-6
Conditions precedent to beginning business; liability for violations
Status: in_force

Sec. 6. No business trust shall transact any business in this state, except such as may be incident to its organization, until it has fully complied with sections 4 and 5 of this chapter, and in event of any violation of this section, all trustees of such business trust, except those who filed their written dissent in the office of the secretary of state before such business was transacted, shall be jointly and severally liable for all debts and obligations of the business trust arising from the business so transacted in this state prior to compliance with sections 4 and 5 of this chapter.

Formerly: Acts 1963, c.353, s.6. As amended by P.L.34-1987, SEC.327.
Ind. Code § 23-18-4-10 — Indiana Code / Title 23 / Article 18 / Chapter 4 / Section 23-18-4-10
Good faith reliance on records by members or managers; liability
Status: in_force

Sec. 10. A member or manager of a limited liability company is not liable when relying in good faith upon the records of the limited liability company and on the information, opinions, reports, or statements presented to the limited liability company by its other managers, members, agents, or employees, or by any other person, concerning matters the member or manager reasonably believes are within the other person's professional or expert competence and who has been selected with reasonable care by or on behalf of the limited liability company, including information, opinions, reports, or statements concerning the value and amount of the assets, liabilities, profits, or losses of the limited liability company or other facts pertinent to the existence and amount of assets from which distributions to members might properly be paid.

As added by P.L.8-1993, SEC.301.
Ind. Code § 23-14-70-5 — Indiana Code / Title 23 / Article 14 / Chapter 70 / Section 23-14-70-5
Liability of auditor or county
Status: in_force

Sec. 5. (a) The auditor is liable on the auditor's bond for any neglect or failure of duty with respect to funds received under section 1 of this chapter in the same manner as with respect to the school fund.

(b) The county is also liable for the preservation of the principal and the payment of the interest on the funds received under section 1 of this chapter to the same extent that it is liable with respect to the principal and interest of the school fund.

As added by P.L.52-1997, SEC.44.
Ind. Code § 23-18.1-7-3 — Indiana Code / Title 23 / Article 18.1 / Chapter 7 / Section 23-18.1-7-3
Liability limited
Status: in_force

Sec. 3. Unless otherwise provided in the operating agreement and to the extent provided under the laws of the jurisdiction of organization of the foreign master limited liability company, the debts, liabilities, and obligations incurred, contracted for, or otherwise existing with respect to:

(1) a particular series of a foreign master limited liability company, are enforceable against the assets of the series only, and not against the assets of the foreign master limited liability company generally or any other series of the foreign master limited liability company;

(2) a foreign master limited liability company generally, are not enforceable against the assets of a particular series of the foreign master limited liability company; or

(3) any series of the foreign master limited liability company, are not enforceable against the assets of any other series of the foreign master limited liability company.

As added by P.L.170-2016, SEC.19.
Ind. Code § 23-17-7-6 — Indiana Code / Title 23 / Article 17 / Chapter 7 / Section 23-17-7-6
Liability for acts or debts of corporation
Status: in_force

Sec. 6. A member of a corporation is not personally liable for the acts or debts of the corporation. However, the member may become personally liable because of the member's own acts or conduct.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-2.5-5-4 — Indiana Code / Title 23 / Article 2.5 / Chapter 5 / Section 23-2.5-5-4
Employment for loan processing activities; requirements
Status: in_force

Sec. 4. A loan processing company may not employ an individual to engage in loan processing activities unless the individual:

(1) has completed the education and examination requirements for a mortgage loan originator; and

(2) is registered to conduct business in Indiana through the Nationwide Multistate Licensing System.

As added by P.L.175-2019, SEC.2. Amended by P.L.205-2021, SEC.5.
Ind. Code § 23-0.5-9-37 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-37
Electronic application for renewal of reserved name
Status: reserved

Sec. 37. The secretary of state shall collect a fee of ten dollars ($10) for filing an electronic application for renewal of reserved name.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-14-65-21 — Indiana Code / Title 23 / Article 14 / Chapter 65 / Section 23-14-65-21
Eminent domain
Status: in_force

Sec. 21. (a) A cemetery board may exercise the power of eminent domain:

(1) within the boundaries of the municipality; and

(2) also outside the municipality, within a distance of five (5) miles from the corporate limits of the municipality;

for the purpose of acquiring additional cemetery lands.

(b) A cemetery board may pay damages to landowners for the lands and property taken or injuriously affected, proceeding in accordance with the statutes applying to municipalities when exercising the power of eminent domain.

(c) A cemetery board may bring suit in the name of the cemetery board in eminent domain proceedings and in other matters whenever the action is necessary to protect the interests of the cemetery board in its conduct and discharge of its duties or obligations, rights, and privileges. A suit may be brought against the cemetery board in its own name.

As added by P.L.52-1997, SEC.39.
Ind. Code § 23-4-1-15 — Indiana Code / Title 23 / Article 4 / Chapter 1 / Section 23-4-1-15
Nature of partner liability; partnerships; limited liability partnerships
Status: in_force

Sec. 15. (1) Except as provided in paragraph (2), all partners are liable:

(a) Jointly and severally for everything chargeable to the partnership under sections 13 and 14 of this chapter.

(b) Jointly for all other debts and obligations of the partnership; but any partner may enter into a separate obligation to perform a partnership contract.

(2) A partner of a limited liability partnership is not personally liable, directly or indirectly, including by way of indemnification, contribution, or otherwise, for:

(a) the debts, obligations, or liabilities of, or chargeable to, the limited liability partnership or other partner or partners, whether arising in tort, contract, or otherwise; or

(b) the acts or omissions of any other partner;

solely by reason of being a partner, acting or failing to act as a partner, or participating as an employee, a consultant, a contractor, or otherwise in the conduct of the business or activities of the limited liability partnership while the partnership is a limited liability partnership.

(3) A partner of a limited liability partnership may be personally liable for the partner's own acts or omissions.

(4) A limited liability partnership is liable out of partnership assets for partnership debts, obligations, and liabilities.

(5) A partner in a limited liability partnership is not a proper party to a proceeding by or against the limited liability partnership, the object of which is to recover any debts, obligations, or liabilities of, or chargeable to, the partnership, unless the partner is personally liable under paragraph (3).

(6) The laws of Indiana or another jurisdiction may not impose personal liability on a partner in a limited liability partnership. The only actions required of a limited liability partnership or of individual partners in such a partnership in order to avail themselves of the limited liability provisions of this chapter are those required by this chapter.

Formerly: Acts 1949, c.114, s.15. As amended by P.L.34-1987, SEC.295; P.L.230-1995, SEC.4.
Ind. Code § 23-1.5-1-6 — Indiana Code / Title 23 / Article 1.5 / Chapter 1 / Section 23-1.5-1-6
"Disqualified person"
Status: in_force

Sec. 6. "Disqualified person" means an individual, corporation, limited liability company, partnership, fiduciary, trust, association, government agency, or other entity that for any reason is or becomes ineligible under this article to own shares issued by a professional corporation. The term includes a charitable remainder unitrust or charitable remainder annuity trust that is or becomes a disqualified person for failure to comply with section 13(3) of this chapter.

As added by P.L.239-1983, SEC.1. Amended by P.L.8-1993, SEC.307; P.L.172-1996, SEC.3.
Ind. Code § 23-1.3-10-1 — Indiana Code / Title 23 / Article 1.3 / Chapter 10 / Section 23-1.3-10-1
Content
Status: in_force

Sec. 1. A benefit corporation shall prepare an annual benefit report that includes all the following:

(1) A narrative description of:

(A) the ways in which the benefit corporation pursued general public benefit during the year and the extent to which general public benefit was created;

(B) both the:

(i) ways in which the benefit corporation pursued a specific public benefit that the articles of incorporation state is the purpose of the benefit corporation to create; and

(ii) extent to which that specific public benefit was created;

(C) any circumstances that have hindered the creation by the benefit corporation of general public benefit or a specific public benefit; and

(D) the process and rationale for selecting or changing the third party standard used to prepare the benefit report.

(2) An assessment of the overall social and environmental performance of the benefit corporation against a third party standard:

(A) applied consistently with any application of that standard in prior benefit reports; or

(B) accompanied by an explanation of the reasons for:

(i) any inconsistent application; or

(ii) the change to that standard from the standard used in the immediate prior report.

(3) The name of the benefit director and the benefit officer, if any, and the address to which correspondence to each of them may be directed.

(4) The compensation paid by the benefit corporation during the year to each director in the capacity of a director.

(5) The report of the benefit director described in IC 23-1.3-6-3.

(6) A statement regarding any connection between the organization that established the third party standard, or its directors, officers, or any holder of at least five percent (5%) of the governance interests in the organization, and the benefit corporation or its directors, officers, or any holder of at least five percent (5%) of the outstanding shares of the benefit corporation, including any financial or governance relationship that might materially affect the credibility of the use of the third party standard.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-0.5-9-18 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-18
Articles of revocation of dissolution; domestic nonprofit corporation
Status: in_force

Sec. 18. The secretary of state shall collect the following fees for filing articles of revocation of dissolution of a domestic nonprofit corporation:

(1) Twenty dollars ($20) for an electronic filing.

(2) Thirty dollars ($30) for filing in a manner other than electronically.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-14-33-27 — Indiana Code / Title 23 / Article 14 / Chapter 33 / Section 23-14-33-27
"Mausoleum"
Status: in_force

Sec. 27. (a) "Mausoleum" means a structure or building that:

(1) is used; or

(2) is intended to be used;

for the entombment or inurnment of human remains in crypts, vaults, or niches, in which entombment or inurnment is done from the interior of the building or structure.

(b) The term includes a columbarium within a mausoleum.

As added by P.L.52-1997, SEC.7.
Ind. Code § 23-2-4-7.5 — Indiana Code / Title 23 / Article 2 / Chapter 4 / Section 23-2-4-7.5
Termination of contract
Status: in_force

Sec. 7.5. (a) This section does not apply to a continuing care retirement community registered before July 1, 2009.

(b) A continuing care agreement may be terminated for any of the following reasons:

(1) The provider has determined that the resident is inappropriate for living in the care setting.

(2) The resident is unable to fully pay the periodic charges because the resident inappropriately divested the assets and income the resident identified at the time of admission to meet the ordinary and customary living expenses for the resident.

(3) Providing assistance to the resident would jeopardize the financial solvency of the provider and the other residents being served by the provider.

(4) The resident has requested a termination of the agreement as allowed under the agreement.

As added by P.L.153-2009, SEC.9.
Ind. Code § 23-14-42.5-1 — Indiana Code / Title 23 / Article 14 / Chapter 42.5 / Section 23-14-42.5-1
"Animal"
Status: in_force

Sec. 1. As used in this chapter, "animal" refers to a:

(1) law enforcement animal; or

(2) military animal.

As added by P.L.176-2016, SEC.1. Amended by P.L.106-2017, SEC.1.
Ind. Code § 23-0.5-2.5-1 — Indiana Code / Title 23 / Article 0.5 / Chapter 2.5 / Section 23-0.5-2.5-1
"CMRA"
Status: in_force

Sec. 1. As used in this chapter, "CMRA" refers to a commercial mail receiving agency.

As added by P.L.96-2025, SEC.5.
Ind. Code § 23-14-33-3 — Indiana Code / Title 23 / Article 14 / Chapter 33 / Section 23-14-33-3
Rules of cemetery owner
Status: in_force

Sec. 3. (a) Notwithstanding any provision of IC 23-14-33 through IC 23-14-76 to the contrary, but subject to subsection (b):

(1) a cemetery that is owned by:

(A) a church or other religious organization; or

(B) a fraternal beneficiary society; and

(2) all burial rights held in the cemetery;

are subject in all things to the rules and regulations of the owner of the cemetery that are enacted by the governing head or body of the cemetery.

(b) A cemetery described in subsection (a) is subject to all the provisions of this chapter through IC 23-14-76 that do not conflict with the rules or regulations of the cemetery owner.

As added by P.L.52-1997, SEC.7.
Ind. Code § 23-1.5-2-3 — Indiana Code / Title 23 / Article 1.5 / Chapter 2 / Section 23-1.5-2-3
Formation of professional corporations; authorization of investments; admission of foreign professional corporations
Status: in_force

Sec. 3. (a) Except as provided in subsections (c) and (d) and IC 25-2.1-5, a professional corporation may be formed to render professional services as follows:

(1) One (1) or more accounting professionals may form a professional corporation to render services that may legally be performed only by an accounting professional.

(2) One (1) or more architectural or engineering professionals may form a professional corporation to render services that may legally be performed only by an architectural or engineering professional.

(3) One (1) or more attorneys may form a professional corporation to render services that may legally be performed only by an attorney.

(4) One (1) or more health care professionals may form a professional corporation to render services that may legally be performed only by a health care professional.

(5) One (1) or more veterinarians may form a professional corporation to render services that may legally be performed only by a veterinarian.

(6) One (1) or more real estate professionals may form a professional corporation to render services that may legally be performed only by a real estate professional.

(b) A foreign professional corporation may be admitted to render professional services in Indiana by complying with IC 23-1.5-5.

(c) A domestic professional corporation or a foreign professional corporation admitted to render professional services in Indiana:

(1) shall have at least one (1) shareholder who is licensed in Indiana; and

(2) may have at least one (1) shareholder who is licensed under the laws of another state to render similar professional services.

(d) In addition to the professional services permitted by its articles of incorporation, a professional corporation may invest its funds in any type of investment not prohibited by law.

As added by P.L.239-1983, SEC.1. Amended by P.L.229-1995, SEC.5; P.L.34-1997, SEC.3; P.L.128-2001, SEC.1.
Ind. Code § 23-18-9-1 — Indiana Code / Title 23 / Article 18 / Chapter 9 / Section 23-18-9-1
Circumstances requiring dissolution; companies existing on or before June 30, 1999
Status: in_force

Sec. 1. (a) Unless otherwise provided in a written operating agreement, a limited liability company existing under this article on or before June 30, 1999, is governed by this section.

(b) A limited liability company is dissolved and its affairs must be wound up on the first of the following to occur:

(1) At the time or on the occurrence of events specified in writing in the articles of organization or operating agreement.

(2) Written consent of all the members.

(3) Except as provided in IC 23-18-6-4(c), upon the death of the member of a limited liability company that had one (1) member, an event of dissociation occurs with respect to a member, unless the business of the limited liability company is continued by the consent of all the remaining members not more than ninety (90) days after the occurrence of the event or as otherwise provided in writing in the articles of organization or operating agreement.

(4) Entry of a decree of judicial dissolution under section 2 of this chapter.

As added by P.L.8-1993, SEC.301. Amended by P.L.269-1999, SEC.14; P.L.99-2024, SEC.5.
Ind. Code § 23-5-2-5 — Indiana Code / Title 23 / Article 5 / Chapter 2 / Section 23-5-2-5
Shares of corporation
Status: reserved

Sec. 5. Every such corporation may, at its discretion, divide its corporate property into shares and designate and prescribe the manner and under what conditions the said stock or shares thereof may be held, sold, transferred, conveyed, voted, retired, cancelled or forfeited.

Formerly: Acts 1875, c.5, s.5; Acts 1913, c.295, s.2.
Ind. Code § 23-1.3-8-1 — Indiana Code / Title 23 / Article 1.3 / Chapter 8 / Section 23-1.3-8-1
Benefit officer
Status: in_force

Sec. 1. A benefit corporation may have an officer designated as the benefit officer.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-17-9-1 — Indiana Code / Title 23 / Article 17 / Chapter 9 / Section 23-17-9-1
Authority
Status: in_force

Sec. 1. A corporation may provide in articles of incorporation or bylaws that delegates have some or all of the authority of members.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-2-2.5-21 — Indiana Code / Title 23 / Article 2 / Chapter 2.5 / Section 23-2-2.5-21
Records of sales
Status: in_force

Sec. 21. Every franchisor offering franchises for sale shall maintain a complete set of books, records, and accounts of those sales.

Formerly: Acts 1975, P.L.262, SEC.1.
Ind. Code § 23-20-1-5 — Indiana Code / Title 23 / Article 20 / Chapter 1 / Section 23-20-1-5
"Person"
Status: in_force

Sec. 5. As used in this chapter, "person" includes a sole proprietorship, a partnership, a corporation, an association, a fiduciary, or an individual.

As added by P.L.114-2010, SEC.12.
Ind. Code § 23-18-4-9 — Indiana Code / Title 23 / Article 18 / Chapter 4 / Section 23-18-4-9
Managerial omissions; penalties or consequences
Status: in_force

Sec. 9. If set forth in writing, an operating agreement may provide that:

(1) a manager who fails to perform and comply with the terms and conditions of the operating agreement is subject to penalties or consequences specified in the operating agreement; and

(2) at the time or upon the happening of events specified in the operating agreement, a manager is subject to penalties or consequences specified in the operating agreement.

As added by P.L.8-1993, SEC.301.
Ind. Code § 23-0.5-9-6 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-6
Annual benefit report; benefit corporation
Status: in_force

Sec. 6. The secretary of state shall collect the following fees for filing an annual benefit report for a benefit corporation:

(1) Ten dollars ($10) for an electronic filing.

(2) Fifteen dollars ($15) for filing in a manner other than electronically.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-17-11-1 — Indiana Code / Title 23 / Article 17 / Chapter 11 / Section 23-17-11-1
List of members entitled to notice of meeting; inspection; validity of action not affected by unavailability of list; limitation on inspection imposed by religious and public benefit corporations
Status: in_force

Sec. 1. (a) After fixing a record date for a notice of a meeting, a corporation shall prepare a list of the names of the corporation's members who are entitled to notice of a members' meeting. The list must show the address and number of votes each member is entitled to vote at the meeting. The corporation shall prepare on a current basis through the time of the membership meeting a list of members, if any, who are entitled to vote at the meeting, but not entitled to notice of the meeting. This list shall be prepared on the same basis and be part of the list of members.

(b) The list of members must be available for inspection by a member for the purpose of communication with other members concerning the meeting, beginning five (5) business days before the date of the meeting for which the list was prepared and continuing through the meeting, at the corporation's principal office or at a place identified in the meeting notice in the city where the meeting will be held. Subject to IC 23-17-27-2(c) and IC 23-17-27-5:

(1) a member;

(2) a member's agent; or

(3) an attorney authorized in writing;

may, on written demand, inspect and copy the list, during regular business hours and at the member's expense, during the period the list is available for inspection.

(c) The corporation shall make the list of members available at the meeting, and a member, the member's agent, or an attorney authorized in writing may inspect the list at any time during the meeting or an adjournment.

(d) If the corporation refuses to allow a member, the member's agent, or an attorney authorized in writing to inspect or copy the list of members during the period specified in subsection (b), the circuit court or superior court of the county where a corporation's principal office, or, if no principal office is located in Indiana, the corporation's registered office, is located, on application of the member, may order the inspection or copying.

(e) Refusal or failure to prepare or make available the list of members does not affect the validity of an action taken at the meeting.

(f) The use and distribution of information acquired from inspection or copying the list of members under the rights granted by this section are subject to IC 23-17-27-2(c) and IC 23-17-27-5.

(g) The articles of incorporation or bylaws of a religious corporation may limit or abolish the rights of a member under this section to inspect and copy the corporation's records.

(h) The articles of incorporation of a public benefit corporation may limit or abolish the right of a member, the member's agent, or an attorney authorized in writing to inspect or copy the membership list if the corporation provides a reasonable means to mail communications concerning the corporation to other members through the corporation at the expense of the member making the request.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-1-43-23 — Indiana Code / Title 23 / Article 1 / Chapter 43 / Section 23-1-43-23
Inadvertent interested shareholder; application of chapter
Status: in_force

Sec. 23. This chapter does not apply to any business combination of a resident domestic corporation with an interested shareholder of the resident domestic corporation who became an interested shareholder inadvertently, if the interested shareholder:

(1) as soon as practicable, divests itself of a sufficient amount of the voting shares of the corporation so that it no longer is the beneficial owner (directly or indirectly) of ten percent (10%) or more of the outstanding voting shares of the resident domestic corporation; and

(2) would not at any time within the five (5) year period preceding the announcement date with respect to the business combination have been an interested shareholder but for the inadvertent acquisition.

As added by P.L.149-1986, SEC.27.
Ind. Code § 23-14-58.5-5 — Indiana Code / Title 23 / Article 14 / Chapter 58.5 / Section 23-14-58.5-5
Penalty
Status: in_force

Sec. 5. A person who:

(1) knowingly terminates an owner's rights and interests in a burial space;

(2) knows or should have known the identity of the owner; and

(3) fails to give the owner notice as required under this chapter;

commits a Class A misdemeanor.

As added by P.L.113-2007, SEC.7.
Ind. Code § 23-4-1-17 — Indiana Code / Title 23 / Article 4 / Chapter 1 / Section 23-4-1-17
Liability of incoming partner
Status: in_force

Sec. 17. A person admitted as a partner into an existing partnership is liable for all the obligations of the partnership arising before his admission as though he had been a partner when such obligations were incurred, except that this liability shall be satisfied only out of partnership property.

Formerly: Acts 1949, c.114, s.17.
Ind. Code § 23-1-44-5 — Indiana Code / Title 23 / Article 1 / Chapter 44 / Section 23-1-44-5
"Record shareholder"
Status: in_force

Sec. 5. As used in this chapter, "record shareholder" means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent that treatment as a record shareholder is provided under a recognition procedure or a disclosure procedure established under IC 23-1-30-4.

As added by P.L.149-1986, SEC.28.
Ind. Code § 23-10-2-10 — Indiana Code / Title 23 / Article 10 / Chapter 2 / Section 23-10-2-10
Change of corporate name
Status: in_force

Sec. 10. Such society may, at any meeting, by giving ten (10) days' notice of the time and purpose thereof, change their corporate name; but the name chosen by such society shall not be assumed until a record has first been made of the fact in the recorder's office of the proper county. Such change shall not affect the rights or liabilities of the society or of other persons or parties.

Formerly: Acts 1852, 1RS, c.101, s.10.
Ind. Code § 23-2-4-24 — Indiana Code / Title 23 / Article 2 / Chapter 4 / Section 23-2-4-24
Rules
Status: in_force

Sec. 24. The commissioner shall adopt under IC 4-22-2 rules necessary to carry out the provisions of this chapter.

As added by Acts 1982, P.L.145, SEC.1.
Ind. Code § 23-2.5-7-5 — Indiana Code / Title 23 / Article 2.5 / Chapter 7 / Section 23-2.5-7-5
Manager; supervising activities limitation
Status: in_force

Sec. 5. (a) A manager designated by a loan broker under section 4 of this chapter may supervise not more than five (5) loan broker offices operated by the loan broker, including the principal place of business and any branch offices of the same company.

(b) A loan broker shall employ a sufficient number of additional managers designated as supervisors to accommodate any branch offices:

(1) operated by the loan broker; and

(2) in excess of the number permitted under subsection (a).

As added by P.L.175-2019, SEC.2. Amended by P.L.89-2024, SEC.22.
Ind. Code § 23-0.6-3-0.3 — Indiana Code / Title 23 / Article 0.6 / Chapter 3 / Section 23-0.6-3-0.3
Governing law
Status: in_force

Sec. 0.3. A share exchange between or among domestic or foreign business corporations is governed by IC 23-1-40 and not this chapter.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-2.5-1-16 — Indiana Code / Title 23 / Article 2.5 / Chapter 1 / Section 23-2.5-1-16
"Loan broker license"
Status: in_force

Sec. 16. "Loan broker license" means a license issued by the commissioner authorizing a person to engage in the activities of a loan broker.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-1-44-1 — Indiana Code / Title 23 / Article 1 / Chapter 44 / Section 23-1-44-1
"Corporation"
Status: in_force

Sec. 1. As used in this chapter, "corporation" means the issuer of the shares held by a dissenter before the corporate action, or the surviving or acquiring corporation by merger or share exchange of that issuer.

As added by P.L.149-1986, SEC.28.
Ind. Code § 23-20-1-9 — Indiana Code / Title 23 / Article 20 / Chapter 1 / Section 23-20-1-9
Order awarding restitution to claimant required
Status: in_force

Sec. 9. The division shall require a claimant to produce a copy of:

(1) a court order; or

(2) an administrative order;

that demonstrates that restitution has been awarded to the claimant as described in section 16 of this chapter.

As added by P.L.114-2010, SEC.12.
Ind. Code § 23-15-13-4 — Indiana Code / Title 23 / Article 15 / Chapter 13 / Section 23-15-13-4
Rounding
Status: in_force

Sec. 4. (a) For a total transaction amount payable to a business entity, except as provided in subsection (b), the business entity may round the total transaction amount for all transactions with a number other than zero (0) or five (5) in the second decimal place by either:

(1) rounding the total transaction amount downward to the next amount divisible by five cents ($0.05);

(2) rounding the total transaction amount upward to the next amount divisible by five cents ($0.05); or

(3) rounding to the nearest five cent ($0.05) increment by:

(A) for a total transaction amount with one (1), two (2), six (6), or seven (7) in the second decimal place, rounding the total transaction amount downward to the next amount divisible by five cents ($0.05); or

(B) for a total transaction amount with three (3), four (4), eight (8), or nine (9) in the second decimal place, rounding the total transaction amount upward to the next amount divisible by five cents ($0.05).

(b) For a total transaction amount that is less than five cents ($0.05), the business entity may round the amount downward or upward to either zero cents ($0.00) or five cents ($0.05).

As added by P.L.128-2026, SEC.106. Amended by P.L.162-2026, SEC.18.
Ind. Code § 23-14-51-1 — Indiana Code / Title 23 / Article 14 / Chapter 51 / Section 23-14-51-1
Application of chapter
Status: in_force

Sec. 1. (a) Except as provided in subsection (b), this chapter does not apply to:

(1) a cemetery owned by a municipal corporation or other governmental unit;

(2) a religious cemetery; or

(3) a cemetery:

(A) that is ten (10) acres or less in size;

(B) that is owned and operated entirely and exclusively by a nonprofit mutual association in existence on June 14, 1939; and

(C) in which burials have taken place before June 14, 1939.

(b) If a cemetery described in subsection (a)(3) directly or indirectly:

(1) constructs or permits to be constructed any structure, above or below ground, and offers interment rights in the structure for sale to the general public; or

(2) acquires:

(A) additional land; or

(B) an interest in additional land;

causing the cemetery to exceed ten (10) acres in size;

this chapter applies to the whole of the cemetery.

As added by P.L.52-1997, SEC.25.
Ind. Code § 23-2.5-8-4 — Indiana Code / Title 23 / Article 2.5 / Chapter 8 / Section 23-2.5-8-4
Loan broker agreement account number
Status: in_force

Sec. 4. A loan broker agreement must be assigned an account number.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-17-14-4 — Indiana Code / Title 23 / Article 17 / Chapter 14 / Section 23-17-14-4
Election, appointment, resignation, or removal; contract rights
Status: in_force

Sec. 4. (a) The election or appointment of an officer does not create contract rights.

(b) An officer's removal does not affect the officer's contract rights with the corporation. An officer's resignation does not affect the corporation's contract rights with the officer. Removal or resignation of an officer does not affect the contract rights of the officer or the corporation.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-13-20-5 — Indiana Code / Title 23 / Article 13 / Chapter 20 / Section 23-13-20-5
Board of trustees; officers; bonds; quorum; majority rule
Status: in_force

Sec. 5. (a) The trustees shall elect the following officers:

(1) A chairman.

(2) One (1) or more vice chairmen.

(3) A secretary.

(4) A treasurer.

(5) The assistant secretaries, assistant treasurers, and other officers provided for in the bylaws.

(b) The treasurer and all assistant treasurers shall give a bond in the penal sum and with securities approved by the trustees before entering upon the duties of office.

(c) Fourteen (14) trustees constitute a quorum for the transaction of all official business. The majority of the members present at a meeting determine the action of the board.

As added by P.L.1-1989, SEC.49.
Ind. Code § 23-14-36-1 — Indiana Code / Title 23 / Article 14 / Chapter 36 / Section 23-14-36-1
Sale or grant of burial rights
Status: in_force

Sec. 1. After recording the plat under IC 23-14-34-1, the owner of the cemetery may sell and grant burial rights in the cemetery.

As added by P.L.52-1997, SEC.10.
Ind. Code § 23-2-6-4 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-4
"Commodity" defined
Status: in_force

Sec. 4. As used in this chapter, "commodity" means, except as otherwise specified by a rule, regulation, or order of the commissioner, any of the following:

(1) An agricultural, a grain, or a livestock product or byproduct.

(2) A metal or mineral, including a precious metal.

(3) A gem or gemstone, whether the gem or gemstone is characterized as precious, semiprecious, or another characterization.

(4) A fuel (whether liquid, gaseous, or otherwise).

(5) Foreign currency.

(6) All other goods, articles, products, or items of any kind, except the following:

(A) A numismatic coin whose fair market value is at least fifteen percent (15%) higher than the fair market value of the metal contained in the coin.

(B) Real property.

(C) Any timber, agricultural, or livestock product that is grown or raised on real property and that is offered or sold by the owner or lessee of the real property.

(D) A work of art that is offered or sold by art dealers, offered or sold at a public auction, or offered or sold through a private sale by the owner of the work of art.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-20-1-27.5 — Indiana Code / Title 23 / Article 20 / Chapter 1 / Section 23-20-1-27.5
Securities restitution fund; reverted funds
Status: in_force

Sec. 27.5. If the balance of the fund at the end of a particular state fiscal year exceeds two million dollars ($2,000,000), the amount that exceeds two million dollars ($2,000,000) reverts to the state general fund.

As added by P.L.156-2023, SEC.16.
Ind. Code § 23-0.5-9-34 — Indiana Code / Title 23 / Article 0.5 / Chapter 9 / Section 23-0.5-9-34
Biennial report
Status: in_force

Sec. 34. (a) The secretary of state shall collect the following fees for filing a biennial report electronically:

(1) Twenty dollars ($20), in the case of a for-profit entity.

(2) Ten dollars ($10), in the case of a nonprofit corporation.

(b) The secretary of state shall collect the following fees for filing a biennial report in a manner other than electronically:

(1) Fifty dollars ($50), in the case of a for-profit entity.

(2) Twenty dollars ($20), in the case of a nonprofit corporation.

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-2-6-5 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-5
"Commodity broker-dealer" defined
Status: in_force

Sec. 5. As used in this chapter, "commodity broker-dealer" means a person engaged in the business of executing transactions in commodity contracts or commodity options for:

(A) the account of others; or

(B) the person's own account.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-1.3-2-5 — Indiana Code / Title 23 / Article 1.3 / Chapter 2 / Section 23-1.3-2-5
"Benefit enforcement proceeding"
Status: in_force

Sec. 5. "Benefit enforcement proceeding" means any claim, action, or proceeding for:

(1) the failure of a benefit corporation to pursue or create:

(A) general public benefit; or

(B) a specific public benefit if the benefit corporation identified a specific public benefit purpose in its articles of incorporation; or

(2) a violation of any obligation, duty, or standard of conduct under this article.

As added by P.L.93-2015, SEC.3.
Ind. Code § 23-14-31-13 — Indiana Code / Title 23 / Article 14 / Chapter 31 / Section 23-14-31-13
"Disposition" defined
Status: in_force

Sec. 13. As used in this chapter, "disposition" means the cremation or other disposition of a dead human body or a part of a dead human body.

As added by P.L.231-1995, SEC.2.
Ind. Code § 23-0.5-1.5-29 — Indiana Code / Title 23 / Article 0.5 / Chapter 1.5 / Section 23-0.5-1.5-29
"Principal office"
Status: in_force

Sec. 29. (a) Except as provided in subsection (b), "principal office" means the usual place of business, headquarters, or other office at which a governing person of an entity is commonly present.

(b) For entities subject to IC 23-0.5-8-4, "principal office" means an entity's contact address.

As added by P.L.118-2017, SEC.5. Amended by P.L.96-2025, SEC.2.
Ind. Code § 23-17-16-7 — Indiana Code / Title 23 / Article 17 / Chapter 16 / Section 23-17-16-7
Proceeding defined
Status: in_force

Sec. 7. As used in this chapter, "proceeding" means a threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and whether formal or informal.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-1-17-3.1 — Indiana Code / Title 23 / Article 1 / Chapter 17 / Section 23-1-17-3.1
Application; domestic railroad corporations
Status: in_force

Sec. 3.1. (a) This article applies to a domestic railroad corporation incorporated before July 1, 1990, if:

(1) the corporation's board of directors adopts a resolution electing to have this article apply to the corporation;

(2) the resolution specifies the date this article will apply to the corporation; and

(3) the resolution is filed in the office of the secretary of state before the date specified under subdivision (2).

(b) The following do not apply to a railroad corporation incorporated under this article:

(1) IC 8-4-1-1 through IC 8-4-1-12.

(2) IC 8-4-2 through IC 8-4-6.

(3) IC 8-4-8.

(4) IC 8-4-11-1.

(5) IC 8-4-12-6.

(6) IC 8-4-13 through IC 8-4-14.

(7) IC 8-4-16.

(8) IC 8-4-21 through IC 8-4-22.

(9) IC 8-4-24.

(c) Unless otherwise specified in a resolution described under subsection (a), a reference to a statute listed under subsection (b) that is contained in the articles of association of a railroad corporation incorporated under this article shall be treated as a reference to the Indiana Business Corporation Law (IC 23-1).

(d) A reference in a statute, other than a statute listed under subsection (b), to a railroad incorporated under a statute listed under subsection (b) shall be considered to include a railroad corporation to which this article applies.

As added by P.L.75-1990, SEC.2. Amended by P.L.1-1993, SEC.190.
Ind. Code § 23-5-1-8 — Indiana Code / Title 23 / Article 5 / Chapter 1 / Section 23-5-1-8
Powers; construction of instruments; terms and conditions; binding effect
Status: in_force

Sec. 8. The power and authority of any business trust authorized under this chapter to transact business in this state shall be as specified in the instrument by which it was created as amended, including but not limited to general grants of power to act and limitations upon individual liability of stockholders, which instrument shall be construed and interpreted in accordance with the common and statutory law applicable to business trusts. Any such trust shall have the right to sue and be sued and if incidental to its purposes the right in its own name, or in the name of the person or persons or corporation or corporations who are from time to time its trustee or trustees, to acquire, hold title to, mortgage, sell, convey, lease, operate, invest in, lend on the security of, and otherwise deal in or with real and personal property; provided, that no business trust shall engage in the business of operating a savings association or credit union or have the power or authority to conduct a banking, railroad, insurance, surety, safe deposit, mortgage guaranty, or building and loan business, or in the business of mining or manufacturing, or in any business regulated under the utility regulatory commission, or take any action which is in violation of this chapter. Subject to the limitations in this section on power and authority, any person dealing with a business trust authorized under this chapter to transact business in this state shall be bound by the terms and conditions of the instrument by which the trust was created and by any amendments thereto which have been filed and recorded in compliance with section 7 of this chapter.

Formerly: Acts 1963, c.353, s.8. As amended by P.L.34-1987, SEC.329; P.L.23-1988, SEC.112; P.L.79-1998, SEC.23.
Ind. Code § 23-17-11-4 — Indiana Code / Title 23 / Article 17 / Chapter 11 / Section 23-17-11-4
Quorum; increasing or decreasing quorum; vote on matter not described in notice for regular or annual meeting; votes considered present for quorum purposes
Status: in_force

Sec. 4. (a) Unless this article, articles of incorporation, or bylaws provide for a higher or lower quorum, ten percent (10%) of the votes entitled to be cast on a matter constitutes a quorum for action on that matter.

(b) An amendment of articles of incorporation or bylaws to decrease the quorum for a member action may be approved by either of the following:

(1) The members.

(2) Unless prohibited by articles of incorporation or bylaws, the board of directors.

(c) An amendment of articles of incorporation or bylaws to increase the quorum required for a member action must be approved by the members.

(d) Unless at least one-third (1/3) of the voting power is present in person or by proxy, the only matters that may be voted upon at an annual or a regular meeting of members are those matters that are described in the meeting notice.

(e) After a vote is represented for any purpose at a meeting, the vote is considered present for quorum purposes for the remainder of the meeting and for any adjournment of that meeting unless a new record date is or must be set for that adjourned meeting.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-0.6-6-2 — Indiana Code / Title 23 / Article 0.6 / Chapter 6 / Section 23-0.6-6-2
Effect on application of federal electronic signatures law
Status: in_force

Sec. 2. This article modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001, et seq., but does not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. 7001(c), or authorize electronic delivery of any of the notices described in Section 103(b) of that act, 15 U.S.C. 7003(b).

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-2.5-7-8 — Indiana Code / Title 23 / Article 2.5 / Chapter 7 / Section 23-2.5-7-8
Loan broker employees; steps to prevent violation
Status: in_force

Sec. 8. A loan broker that fails to take reasonable steps to prevent a violation of this article by a mortgage loan originator or other individual employed by the loan broker may subject the loan broker to discipline under IC 23-2.5-11.

As added by P.L.175-2019, SEC.2. Amended by P.L.89-2024, SEC.25.
Ind. Code § 23-2-6-26 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-26
Effect of chapter on securities law
Status: in_force

Sec. 26. This chapter does not impair, derogate, or otherwise affect any of the following:

(1) The authority or powers of the commissioner under the Indiana securities law.

(2) The application of any provision of the Indiana securities law to any person or transaction subject to the Indiana securities law.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-0.6-3-2 — Indiana Code / Title 23 / Article 0.6 / Chapter 3 / Section 23-0.6-3-2
Plan of interest exchange; contents
Status: in_force

Sec. 2. (a) A domestic entity may be the acquired entity in an interest exchange under this article by approving a plan of interest exchange. The plan must be in a record and contain:

(1) the name and type of the acquired entity;

(2) the name, jurisdiction of organization, and type of the acquiring entity;

(3) the manner of converting the interests in the acquired entity into interests, securities, obligations, rights to acquire interests or securities, cash, or other property, or any combination of the foregoing;

(4) any proposed amendments to the public organic document or private organic rules that are, or are proposed to be, in a record of the acquired entity;

(5) the other terms and conditions of the interest exchange; and

(6) any other provision required by the law of this state or the organic rules of the acquired entity.

(b) A plan of interest exchange may contain any other provision not prohibited by law.

As added by P.L.118-2017, SEC.6.
Ind. Code § 23-0.5-2-14 — Indiana Code / Title 23 / Article 0.5 / Chapter 2 / Section 23-0.5-2-14
Required reporting of ownership information by a health care entity
Status: in_force

Sec. 14. (a) Each health care entity that does business in Indiana shall report the following information as part of the report under this chapter:

(1) The name of each person or entity that has:

(A) either:

(i) an ownership interest of at least five percent (5%); or

(ii) if the person is a practitioner of the health care entity, any ownership interest;

(B) a controlling interest; or

(C) an interest as a private equity partner;

in the health care entity.

(2) The business address of each person or entity identified under subdivision (1). The business address must include a:

(A) building number;

(B) street name;

(C) city name;

(D) ZIP code; and

(E) country name.

The business address may not include a post office box number.

(3) The business website, if applicable, of each person or entity identified under subdivision (1).

(4) Any of the following identification numbers, if applicable, for a person or entity identified under subdivision (1):

(A) National provider identifier (NPI).

(B) Taxpayer identification number (TIN).

(C) Employer identification number (EIN).

(D) CMS certification number (CCN).

(E) National Association of Insurance Commissioners (NAIC) identification number.

(F) A personal identification number associated with a license issued by the department of insurance.

(5) The ownership stake of each person or entity identified under subdivision (1).

(6) Whether the health care entity is a Medicaid provider and, if so, whether the health care entity accepted Medicaid recipients during a majority of the preceding two (2) calendar years.

A report provided under this section may not include the Social Security number of any individual.

(b) The secretary of state shall cooperate with the Indiana department of health and the department of insurance to develop and implement a plan to collect the information described in this section.

(c) In carrying out the secretary of state's duties under this section, the secretary of state shall operate within existing appropriations for the secretary of state.

As added by P.L.239-2025, SEC.8.
Ind. Code § 23-17-28-3 — Indiana Code / Title 23 / Article 17 / Chapter 28 / Section 23-17-28-3
Corporations; notice by mail
Status: in_force

Sec. 3. Written notice by a domestic or foreign corporation to a member is effective when mailed, if correctly addressed to the member's address shown in the corporation's current record of members.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-0.5-1-1 — Indiana Code / Title 23 / Article 0.5 / Chapter 1 / Section 23-0.5-1-1
Short title
Status: in_force

Sec. 1. This article may be cited as the Uniform Business Organizations Administrative Provisions Act (2018).

As added by P.L.118-2017, SEC.5.
Ind. Code § 23-17-9-2 — Indiana Code / Title 23 / Article 17 / Chapter 9 / Section 23-17-9-2
Articles of incorporation or bylaws; provisions
Status: in_force

Sec. 2. The articles of incorporation or bylaws may set forth provisions relating to the following:

(1) The characteristics, qualifications, rights, limitations, and obligations of delegates, including selection and removal.

(2) Calling, noticing, holding, and conducting meetings of delegates.

(3) Carrying on corporate activities during and between meetings of delegates.

As added by P.L.179-1991, SEC.1.
Ind. Code § 23-16-3-8 — Indiana Code / Title 23 / Article 16 / Chapter 3 / Section 23-16-3-8
Liability for false statement in certificate
Status: in_force

Sec. 8. (a) Except as provided in subsection (b), if any certificate of limited partnership or certificate of amendment or cancellation contains a materially false statement, a person who suffers loss by reasonable reliance on the statement may recover damages for the loss from:

(1) any general partner who knew or should have known the statement to be false at the time the certificate was executed; and

(2) any general partner who:

(A) after the execution of the certificate, but at least sixty (60) days before the statement was reasonably relied upon, knew or should have known that any arrangement or other fact described in a statement in the certificate had changed, making the statement inaccurate; and

(B) failed to cancel or amend the certificate or to file a petition for the cancellation or amendment of the certificate under IC 23-0.5-2 before the statement was reasonably relied upon.

(b) A general partner is not liable for failing to cancel or amend a certificate or for failing to file a petition for the amendment or cancellation of a certificate under subsection (a)(2) if a certificate of amendment, certificate of cancellation, or petition for amendment or cancellation is filed within sixty (60) days after the general partner knew or should have known to the extent provided in subsection (a) that the statement in the certificate was false in any material respect.

As added by P.L.147-1988, SEC.1. Amended by P.L.118-2017, SEC.69.
Ind. Code § 23-4-1-51 — Indiana Code / Title 23 / Article 4 / Chapter 1 / Section 23-4-1-51
Repealed
Status: repealed

As added by P.L.230-1995, SEC.16. Amended by P.L.119-2015, SEC.29. Repealed by P.L.118-2017, SEC.43.
Ind. Code § 23-2.5-1-6 — Indiana Code / Title 23 / Article 2.5 / Chapter 1 / Section 23-2.5-1-6
"Branch office"
Status: in_force

Sec. 6. "Branch office" means a loan broker office other than the loan broker's principal place of business.

As added by P.L.175-2019, SEC.2.
Ind. Code § 23-1-55-1 — Indiana Code / Title 23 / Article 1 / Chapter 55 / Section 23-1-55-1
Application
Status: in_force

Sec. 1. This chapter does not apply to a person who sells sexually explicit materials on June 30, 2008, unless the person changes the person's business location after June 30, 2008.

As added by P.L.92-2008, SEC.1.
Ind. Code § 23-2-6-29 — Indiana Code / Title 23 / Article 2 / Chapter 6 / Section 23-2-6-29
Cease and desist orders; civil remedies
Status: in_force

Sec. 29. (a) If the commissioner believes, whether or not based upon an investigation conducted under section 28 of this chapter, that a person has engaged or is about to engage in any act or practice that violates this chapter or any rule or order adopted or issued by the commissioner, the commissioner may do any of the following:

(1) Issue a cease and desist order.

(2) Issue an order imposing a civil penalty of not more than ten thousand dollars ($10,000) for any single violation.

(3) Initiate any of the actions specified in subsection (b).

(b) In addition to any other legal or equitable remedies, the commissioner may bring any of the following actions in circuit or superior court or in the appropriate courts of another state:

(1) An action for declaratory judgment.

(2) An action for a prohibitory injunction or mandatory injunction to:

(A) enjoin any violation; and

(B) ensure compliance with this chapter or any rule or order adopted or issued by the commissioner.

(3) An action for disgorgement.

(4) An action for the appointment of a receiver or conservator for the defendant or the defendant's assets.

As added by P.L.177-1991, SEC.10.
Ind. Code § 23-1-25-4 — Indiana Code / Title 23 / Article 1 / Chapter 25 / Section 23-1-25-4
Fractional shares; scrip
Status: in_force

Sec. 4. (a) A corporation may do any one (1) or more of the following:

(1) Issue fractions of a share or pay in money the value of fractions of a share.

(2) Arrange for disposition of fractional shares by the shareholders.

(3) Issue scrip in registered or bearer form entitling the holder to receive a full share upon surrendering enough scrip to equal a full share.

(b) Each certificate representing scrip must be conspicuously labeled "scrip" and must contain the information required by IC 23-1-26-6(b).

(c) The holder of a fractional share is entitled to exercise the rights of a shareholder, including the right to vote, to receive dividends, and to participate in the assets of the corporation upon liquidation. The holder of scrip is not entitled to any of these rights unless the scrip provides for them.

(d) The board of directors may authorize the issuance of scrip subject to any condition considered desirable, including:

(1) that the scrip will become void if not exchanged for full shares before a specified date; and

(2) that the shares for which the scrip is exchangeable may be sold and the proceeds paid to the scripholders.

As added by P.L.149-1986, SEC.9.
Ind. Code § 23-1.3-7-3 — Indiana Code / Title 23 / Article 1.3 / Chapter 7 / Section 23-1.3-7-3
Immune from personal liability
Status: in_force

Sec. 3. Except as provided in the bylaws of the benefit corporation, an officer is not personally liable for monetary damages for:

(1) an action or inaction as an officer in the course of performing the duties of an officer under section 1 of this chapter if the officer performed the duties of the position in compliance with IC 23-1 and this chapter; or

(2) failure of the benefit corporation to pursue or create general public benefit or a specific public benefit.

As added by P.L.93-2015, SEC.3.