Indiana Code 27-8-1-16. Foreign corporations; fraudulent practices; quo warranto to revoke license
Current as of: 2024 | Check for updates
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Terms Used In Indiana Code 27-8-1-16
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
Sec. 16. When, in the state comptroller’s opinion, such corporation or association is in this state conducting its business fraudulently, or is not carrying out its contracts with members residing in this state, in good faith, the state comptroller shall report the same to the attorney general, who shall thereupon commence proceedings by writ of quo warranto against such corporation or association, requiring it to show cause why its license to do business in this state should not be revoked.
Formerly: Acts 1883, c.136, s.16. As amended by P.L.9-2024, SEC.488.