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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 1. (a) The law of the jurisdiction of formation of an entity governs:
(1) the internal affairs of the entity;
(2) the liability that a person has as an interest holder or governing person for a debt, obligation, or other liability of the entity; and
(3) the liability of a series of a limited liability company.
(b) A foreign entity is not precluded from registering to do business in Indiana because of any difference between the law of the entity's jurisdiction of formation and the law of Indiana.
(c) Registration of a foreign entity to do business in Indiana does not authorize the foreign entity to engage in any activities and affairs or exercise any power that a domestic entity of the same type may not engage in or exercise in Indiana.
Cite this article: FindLaw.com - Indiana Code Title 23. Business and Other Associations § 23-0.5-5-1 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-23-business-and-other-associations/in-code-sect-23-0-5-5-1/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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