§415B-136 Revocation of certificate of authority. (a) The certificate of authority of a foreign corporation to conduct affairs in this State may be revoked by the director when:

(1) The corporation has failed to file its annual report for a period of two years or has failed to pay any fees or penalties imposed pursuant to this chapter;

(2) The corporation has failed to appoint and maintain a registered agent in this State as required by this chapter;

(3) The corporation, after change of its registered agent or registered address, has failed for a period of thirty days to deliver to the director for filing a statement of the change as required by this chapter;

(4) The corporation has failed to deliver to the director a certificate evidencing its name change or any articles of merger within the time prescribed by this chapter;

(5) The certificate of authority of the corporation was procured through fraud practiced upon the State; or

(6) A misrepresentation has been made of any material matter in any application, report, affidavit, or other document submitted by the corporation pursuant to this chapter.

(b) No certificate of authority of a foreign corporation shall be revoked by the director unless the director has given the corporation at least sixty days' notice of the revocation by mail addressed to the corporation's registered office in this State, and the corporation, prior to revocation fails:

(1) To deliver to the director an annual report;

(2) To deliver to the director for filing, a certificate evidencing a corporation's name change or articles of merger, or the required statement of change of registered agent;

(3) To pay fees or penalties; or

(4) To correct any misrepresentation. [L 1985, c 270, pt of §1; am L 1987, c 135, §196]