AI-assisted research summary: The commission may start a proceeding to revoke a foreign corporation’s authority to do business in the state if one of the listed grounds exists.
10-11530 - Grounds for revocation 10-11530 . Grounds for revocation The commission may commence a proceeding under section 10-11531 to revoke the authority of a foreign corporation to conduct affairs in this state if any of the following conditions exist: 1. The foreign corporation does not deliver the annual report to the commission within the time required by chapters 24 through 40 of this title. 2. The foreign corporation does not pay any fees or penalties imposed by chapters 24 through 40 of this title when they become due and payable. 3. The foreign corporation is without a statutory agent or known place of business in this state for sixty days or more. 4. The foreign corporation does not inform the commission that its statutory agent or its known place of business has changed or that its statutory agent has resigned within sixty days after the change or resignation. 5. The foreign corporation has failed to make any publication required by this title, provided the commission has notified the foreign corporation of the intent of the commission to commence a revocation proceeding for that reason and the foreign corporation has failed to file an affidavit or other appropriate evidence of publication within sixty days after that notice. 6. 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 commission for filing. 7. The commission 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 disappeared as the result of a merger. 8. The corporation has failed to file a certificate of disclosure or answer interrogatories as prescribed in chapters 24 through 40 of this title. 9. Any officer or other representative of the corporation has made any misrepresentation of a material matter in any application, report or other document submitted by the corporation pursuant to chapters 24 through 40 of this title. 10. The corporation has failed to pay fees, penalties and costs required under this chapter or to comply with section 10-11520, subsection F or the commission has not received the notice required by section 10-11520, subsection C within six months after filing the application for withdrawal.