§415-121 Revocation of certificate of authority. The certificate of authority of a foreign corporation to transact business in this State may be revoked by the director upon the conditions prescribed in this section 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 prescribed by this chapter when they have become due and payable; or

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

(3) The foreign corporation has failed, for more than thirty days after a change of its registered office or registered agent, to file in the office of the director a statement of the change as required by this chapter; or

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

No certificate of authority of a foreign corporation shall be revoked by the director unless (1) the director shall have given the corporation not less than sixty days' notice thereof by mail addressed to its registered office in this State, and (2) the corporation has failed prior to revocation to file such annual report, or pay such fees or penalties, or file the required statement of change of registered agent or registered office, or file such articles of amendment or articles of merger, or correct such misrepresentation. [L 1983, c 167, pt of §1; am L 1985, c 270, §4; gen ch 1985; am L 1987, c 135, §87]