Indiana § 27-1-6-13 - Requirements for commencing business or incurring indebtedness; liability for violations
Full text of Indiana Indiana Code § 27-1-6-13 — Requirements for commencing business or incurring indebtedness; liability for violations, with citation guidance and answers to common questions.
§ 27-1-6-13. Requirements for commencing business or incurring indebtedness; liability for violations
Sec. 13. Any company organized under this article shall not transact any business or incur any indebtedness until:
(a) one (1) of the triplicate copies of the articles of incorporation, bearing the approval of the department and the attorney general and the endorsement of the approval of the secretary of state, as provided in section 10 of this chapter has been filed for record with the county recorder of the county in which the principal office is located; and
(b) a certified copy of the permit for completion of organization, issued pursuant to section 11 of this chapter, shall be filed for record with the county recorder of the county in which the principal office is located, which certified copy shall be evidence only that the company has been authorized to proceed in the completion of its organization.
If a company transacts any business or incurs any indebtedness in violation of this section, the officers who participated in the transaction of business or incurring the indebtedness and the directors, except those who dissented from transacting the business or incurring the indebtedness and caused their dissent to be filed at the time in the principal office of the company or who, being absent, filed their dissent upon learning of the action, shall be severally liable for the debts or liabilities of the company so incurred or arising from transacting the business or incurring the indebtedness.
Formerly: Acts 1935, c.162, s.73. As amended by P.L.252-1985, SEC.23; P.L.136-2018, SEC.146.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 27-1-6-13
What does Indiana Code § 27-1-6-13 cover?
Section 27-1-6-13 ("Requirements for commencing business or incurring indebtedness; liability for violations") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 27-1-6-13?
A common citation format is "Indiana Code § 27-1-6-13" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 27-1-6-13 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.