Disqualified purchasers; unauthorized business associations

# (1)

A business association that:

# (A)

has not obtained a certificate of authority from, or registered with, the secretary of state in accordance with the procedures described in IC 23, as applicable; or

# (B)

has obtained a certificate of authority from, or registered with, the secretary of state in accordance with the procedures described in IC 23, as applicable, but is not in good standing in Indiana as determined by the secretary of state.

# (2)

A person who is an agent of a person described in this subsection.

(b) As used in this section, "business association" means a corporation, professional corporation, nonprofit corporation, limited liability company, partnership, or limited partnership.

(c) A person subject to this section may not purchase a mobile home assessed as personal property that is offered for sale under this chapter. However, this section does not prohibit a person from bidding on a mobile home assessed as personal property that is owned by the person and offered for sale under this chapter.

(d) If a person purchases a mobile home assessed as personal property that the person was not eligible to purchase under this section, the sale of the property is subject to forfeiture. If the county treasurer determines or is notified not more than six (6) months after the date of the sale that the sale of the property should be forfeited under this section, the county treasurer shall:

(1) notify the person in writing that the sale is subject to forfeiture within thirty (30) days after the notice if:

(A) the person does not obtain a certificate of authority from, or register with, the secretary of state in accordance with the procedures described in IC 23, as applicable; or

(B) the person does not otherwise cure the noncompliance that is the basis of the person's failure to be in good standing in Indiana as determined by the secretary of state; and

(2) if the person does not meet the conditions described in subdivision (1) within thirty

(30) days after the notice, refund the surplus amount of the person's bid to the person.

(e) A county treasurer may decline to forfeit a sale under this section because of inadvertence or mistake, lack of actual knowledge by the bidder, substantial harm to other parties with interests in the tract or item of real property, or other substantial reasons. If the treasurer declines to forfeit a sale, the treasurer shall:

(1) prepare a written statement explaining the reasons for declining to forfeit the sale;
and

(2) retain the written statement as an official record.
As added by P.L.235-2017, SEC.9.