Sec. 3. If a corporation organized under this title does not complete its organization and proceeds with the transaction of business within six (6) months after its articles of incorporation have been approved and filed, the approval is revoked and the articles of incorporation are void, unless an extension is granted by the director of the department.
As added by P.L.11-1998, SEC.21.
Structure Indiana Code
Title 28. Financial Institutions
Article 12. Formation of Banks, Trust Companies, and Building and Loan Associations
Chapter 8. Business of Corporation
28-12-8-1. Conditions for Indebtedness or Transactions
28-12-8-2. Liability of Officers and Directors for Unauthorized Business; Dissenters; Exemption
28-12-8-3. Failure to Timely Complete Organization and Transact Business