Sec. 50. (a) If the secretary of state finds that an application for admission submitted under section 49 of this chapter conforms to law and that all patrons of the association who reside in Indiana will be entitled to receive substantially the same rights, benefits, and privileges from the association as though the association were incorporated under this chapter, the secretary of state shall:
(1) endorse the secretary of state's approval upon each of the triplicate copies; and
(2) if all fees required by law have been paid:
(A) file one (1) copy of the application for admission and an authenticated copy of the articles of incorporation of the association in the secretary of state's office; and
(B) issue to the association an original and a duplicate certificate of admission, accompanied by two (2) copies of the application bearing the endorsement of the secretary of state's approval.
(b) A certificate of admission issued under subsection (a) must set forth the following:
(1) The name of the association, the state where the association was incorporated, and the location of the association's principal office in that state.
(2) The character of business the association is authorized to transact in Indiana.
(3) The amount of the association's authorized capital stock, if any, and the amount of capital stock issued and outstanding.
(4) The amount of the fee paid for the association's admission.
(5) The address of the corporation in Indiana.
(6) The name and address of the association's resident agent in Indiana for service of legal process.
[Pre-2008 Recodification Citation: 15-7-1-31.]
As added by P.L.2-2008, SEC.3.