§ 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 […]
§ 1402. Application for certificate of authority
§ 1402. Application for certificate of authority (a) A foreign enterprise may apply for a certificate of authority by delivering an application to the Secretary of State for filing. The application shall state: (1) the name of the foreign enterprise and, if the name does not comply with section 111 of this title, an alternative […]
§ 1403. Activities not constituting transacting business
§ 1403. Activities not constituting transacting business (a) Activities of a foreign enterprise that do not constitute transacting business in this State under this article include: (1) maintaining, defending, and settling an action or proceeding; (2) holding meetings of the foreign enterprise’s members or directors or carrying on any other activity concerning the foreign enterprise’s […]
§ 1404. Issuance of certificate of authority
§ 1404. Issuance of certificate of authority Unless the Secretary of State determines that an application for a certificate of authority does not comply with the filing requirements of this title, the Secretary of State, upon payment by the foreign enterprise of all filing fees, shall file the application, issue a certificate of authority, and […]
§ 1405. Noncomplying name of foreign enterprise
§ 1405. Noncomplying name of foreign enterprise (a) A foreign enterprise whose name does not comply with section 111 of this title may not obtain a certificate of authority until it adopts, for the purpose of transacting business in this State, an alternative name that complies with section 111. A foreign enterprise that adopts an […]
§ 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 […]
§ 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 […]
§ 1215. Statement of termination
§ 1215. Statement of termination (a) A dissolved mutual benefit enterprise that has completed winding up may deliver to the Secretary of State for filing a statement of termination that states: (1) the name of the enterprise; (2) the date of filing of its initial articles of organization; and (3) that the enterprise is terminated. […]