§415-120 Certificate of withdrawal. After the filing of the application of withdrawal, the director shall issue a certificate of withdrawal which shall be effective as of the date of the filing of the application of withdrawal, and the authority of the foreign corporation to transact business in this State shall cease. [L 1983, c 167, pt of §1; am L 1985, c 270, §4; am L 1987, c 135, §86]