B. ADMINISTRATIVE DISSOLUTION

[§414-401] Grounds for administrative dissolution. The department director may commence a proceeding under section 414-402 to administratively dissolve a corporation if:

(1) The corporation has failed to file its annual report with the department director for a period of two years;

(2) The corporation procured its articles of incorporation through fraud;

(3) The corporation has continued to exceed or abuse the authority conferred upon it by law; or

(4) The corporation does not notify the department director within sixty days that its registered agent or registered office has been changed, that its registered agent has resigned, or that its registered office has been discontinued. [L 2000, c 244, pt of §1]