Premature Transaction of Business; Personal Liability of Officers and Directors

  1. Law
  2. Indiana Code
  3. Financial Institutions
  4. Department of Financial Institutions
  5. Foreign Corporations
  6. Premature Transaction of Business; Personal Liability of Officers and Directors

Checkout our iOS App for a better way to browser and research.

Sec. 10. If a foreign corporation transacts business in this state before it has received the approval of the department, the officers and directors of the corporation shall be severally liable for the liabilities of the corporation that result from the corporation's transaction of business in Indiana.

Formerly: Acts 1933, c.40, s.333. As amended by P.L.171-1996, SEC.15; P.L.11-1998, SEC.3.


Download our app to see the most-to-date content.