79-11-385 - Revocation of certificate of authority of foreign corporation, grounds.
§ 79-11-385. Revocation of certificate of authority of foreign corporation, grounds.
(1) The Secretary of State may commence a proceeding under Section 79-11-387 to revoke the certificate of authority of a foreign corporation authorized to transact business in this state if:
(a) The foreign corporation does not deliver the status report to the Secretary of State within sixty (60) days after it is due;
(b) The foreign corporation does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by Section 79-11-101 et seq. or other law;
(c) The foreign corporation is without a registered agent or registered office in this state for sixty (60) days or more;
(d) The foreign corporation does not inform the Secretary of State under Section 79-11-377 or 79-11-379 that its registered agent or registered office has changed, that its registered agent has resigned, or that its registered office has been discontinued within ninety (90) days of the change, resignation or discontinuance;
(e) An incorporator, director, officer or agent of the foreign corporation signed a document such person knew was false in any material respect with intent that the document be delivered to the Secretary of State for filing; or
(f) The Secretary of State receives a duly authenticated certificate from the Secretary of State or other official having custody of corporate records in the state or country under whose law the foreign corporation is incorporated stating that it has been dissolved or has disappeared as the result of a merger.
(2) The Attorney General may commence a proceeding under Section 79-11-387 to revoke the certificate of authority of a foreign corporation authorized to transact business in this state if the corporation has continued to exceed or abuse the authority conferred upon it by law.
Sources: Laws, 1987, ch. 485, § 143, eff from and after January 1, 1988.