Sec. 1. (a) Every corporation incorporated under this article has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the articles of incorporation.
(b) A corporation engaging in a business that is subject to regulation under another statute of this state may incorporate under this article unless provisions for incorporation of corporations engaging in that business exist under that statute.
As added by P.L.149-1986, SEC.6.
Structure Indiana Code
Title 23. Business and Other Associations
Article 1. Indiana Business Corporation Law
Chapter 22. Powers and Purposes
23-1-22-1. Purpose of Corporation; Law Governing
23-1-22-2. Perpetual Duration; Powers
23-1-22-3. Emergencies; Powers; Meetings
23-1-22-4. Procedures Regulating Transactions Resulting in Change of Control
23-1-22-5. Challenging Corporation's Power to Act; Ultra Vires Acts