§ 7-1.2-1501 - Annual reports of domestic and foreign corporations.
SECTION 7-1.2-1501
§ 7-1.2-1501 Annual reports of domesticand foreign corporations. – (a) Each domestic corporation, and each foreign corporation authorized totransact business in this state, shall file, within the time prescribed by thischapter, an annual report stating:
(1) The name of the corporation and the state or countryunder the laws of which it is incorporated;
(2) A brief statement of the character of the business inwhich the corporation is actually engaged in this state;
(3) The names and respective addresses of the directors andofficers of the corporation;
(4) A statement of the aggregate number of shares which thecorporation has authority to issue, itemized by classes, par value of shares,if any, and series, if any, within a class;
(5) A statement of the aggregate number of issued shares,itemized by classes, par value of shares, if any, and series, if any, within aclass;
(6) Any additional information that is required by thesecretary of state.
(b) The annual report must be made on forms prescribed andfurnished by the secretary of state, and the information contained therein mustbe given as of the date of the execution of the report. It must be executed onbehalf of the corporation by its authorized representative, or, if thecorporation is in the hands of a receiver or trustee, it must be executed onbehalf of the corporation by the receiver or trustee.
(c) The annual report of a domestic or foreign corporationmust be delivered to the secretary of state between January 1st and the March1st of each year, except that the first annual report of a domestic or foreigncorporation must be filed between January 1st and March 1st of the yearfollowing the calendar year in which its articles of incorporation were filedwith or its certificate of authority was issued by the secretary of state.Proof to the satisfaction of the secretary of state that prior to March 1st thereport was deposited in the United States mail in a sealed envelope, properlyaddressed, with postage prepaid, is deemed to be a compliance with thisrequirement.
(d) If the secretary of state finds that the annual reportconforms to the requirements of this chapter, the secretary of state shall filethe report. If the secretary of state finds that it does not conform, thesecretary of state shall promptly return the report to the corporation for anynecessary corrections, in which event the penalties subsequently prescribed forfailure to file the report within the time previously provided do not apply ifthe report is corrected to conform to the requirements of this chapter andreturned to the secretary of state within thirty (30) days from the date onwhich it was mailed to the corporation by the secretary of state.
(e) Each corporation, domestic or foreign, that fails orrefuses to file its annual report for any year within thirty (30) days afterthe time prescribed by this chapter is subject to a penalty of twenty-fivedollars ($25.00) per year.