§ 1406. Revocation of certificate of authority
§ 1406. Revocation of certificate of authority (a) A certificate of authority may be revoked by the Secretary of State in the manner provided in subsection (b) of this section if the foreign enterprise does not: (1) pay, not later than 60 days after the due date, any fee, tax, or penalty due to the […]
§ 1407. Cancellation of certificate of authority; effect of failure to have certificate
§ 1407. Cancellation of certificate of authority; effect of failure to have certificate (a) To cancel its certificate of authority, a foreign enterprise shall deliver to the Secretary of State for filing a notice of cancellation. The certificate is canceled when the notice becomes effective under section 203 of this title. (b)(1) A foreign enterprise […]
§ 1408. Action by Attorney General
§ 1408. Action by Attorney General The Attorney General may maintain an action in the Civil Division of the Superior Court to collect the penalties imposed in section 1407 of this title and to restrain a foreign enterprise from transacting business in this State in violation of this chapter. (Added 2011, No. 84 (Adj. Sess.), […]
§ 1501. Disposition of assets not requiring member approval
§ 1501. Disposition of assets not requiring member approval Unless the articles of organization otherwise provide, member approval under section 1502 of this title is not required for a mutual benefit enterprise to: (1) sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the enterprise in the usual […]
§ 1502. Member approval of other disposition of assets
§ 1502. Member approval of other disposition of assets A sale, lease, exchange, license, or other disposition of assets of a mutual benefit enterprise, other than a disposition described in section 1501 of this title, requires approval of the enterprise’s members under sections 1503 and 1504 of this title if the disposition leaves the enterprise […]
§ 1503. Notice and action on disposition of assets
§ 1503. Notice and action on disposition of assets For a mutual benefit enterprise to dispose of assets under section 1502 of this title: (1) a majority of the board of directors, or a greater percentage if required by the organic rules, shall approve the proposed disposition; and (2) the board of directors shall call […]
§ 1401. Governing law
§ 1401. Governing law (a) The law of the State or other jurisdiction under which a foreign enterprise is organized governs relations among the members of the foreign enterprise and between the members and the foreign enterprise. (b) A foreign enterprise may not be denied a certificate of authority because of any difference between the […]
§ 1211. Administrative dissolution
§ 1211. Administrative dissolution (a) The Secretary of State may dissolve a mutual benefit enterprise administratively if the enterprise does not: (1) pay, not later than 60 days after the due date, any fee, tax, or penalty due to the Secretary of State under this title; or (2) deliver not later than 60 days after […]
§ 1212. Reinstatement following administrative dissolution
§ 1212. Reinstatement following administrative dissolution (a) A mutual benefit enterprise that has been dissolved administratively may apply to the Secretary of State for reinstatement not later than two years after the effective date of dissolution. The application shall be delivered to the Secretary of State for filing and state: (1) the name of the […]
§ 1213. Denial of reinstatement; appeal
§ 1213. Denial of reinstatement; appeal (a) If the Secretary of State denies a mutual benefit enterprise’s application for reinstatement following administrative dissolution, the Secretary of State shall prepare and file a notice that explains the reason for denial and serve the enterprise with a copy of the notice. (b) Not later than 30 days […]