PART I

[§414D-248] Grounds for administrative dissolution. The department director may commence a proceeding under section 414D-249 to administratively dissolve a corporation if:

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

(2) The corporation is without a registered agent or registered office in this State for sixty days or more;

(3) The corporation fails to 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;

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

(5) The corporation has continued to exceed or abuse the authority conferred on it by law. [L 2001, c 105, pt of §1]