Montana Code 35-2-832. Grounds for revocation
35-2-832. Grounds for revocation. (1) The secretary of state may commence a proceeding under 35-2-833 to revoke the certificate of authority of a foreign corporation authorized to transact business in this state if:
Terms Used In Montana Code 35-2-832
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means a public benefit corporation, mutual benefit corporation, or religious corporation. See Montana Code 35-2-114
- filing: means filed in the office of the secretary of state. See Montana Code 35-2-114
- Foreign corporation: means a corporation that is organized under a law other than the law of this state, including the laws of a federally recognized Indian tribe, and that would be a nonprofit corporation if formed under the laws of this state. See Montana Code 35-2-114
- Person: includes any individual or entity. See Montana Code 35-2-114
- Proceeding: includes a civil suit and a criminal, administrative, and investigatory action. See Montana Code 35-2-114
- Public benefit corporation: means a domestic corporation designated as a public benefit corporation. See Montana Code 35-2-114
- Secretary: means the corporate officer to whom the board of directors has delegated responsibility under 35-2-439(2) for custody of the minutes of the directors' and members' meetings and for authenticating the records of the corporation. See Montana Code 35-2-114
- signed: means , with present intent to authenticate or adopt a record:
(a)to execute or adopt a tangible symbol; or
(b)to attach to or logically associate with the record an electronic sound, symbol, or process. See Montana Code 35-2-114
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)the foreign corporation does not deliver the annual report to the secretary of state within 90 days after it is due;
(b)the foreign corporation does not pay within 90 days after they are due any franchise taxes or penalties imposed by this chapter or other law;
(c)the foreign corporation is without a registered agent in this state for 90 days or more;
(d)the foreign corporation does not inform the secretary of state by an appropriate filing that its registered agent has changed or resigned within 90 days of the change or resignation;
(e)an incorporator, director, officer, or agent of the foreign corporation signed a document that the person knew was false in any material respect, with the intent that the document be delivered to the secretary of state for filing; or
(f)the secretary of state receives a duly authenticated certificate from the secretary of state or other official having custody of corporate records in the state, tribe, or country under whose law the foreign corporation is incorporated and the certificate states that the foreign corporation has been dissolved or disappeared as the result of a merger.
(2)The attorney general may commence a proceeding under 35-2-833 to revoke the certificate of authority of a foreign corporation authorized to transact business in this state if:
(a)the corporation has continued to exceed or abuse the authority conferred upon it by law;
(b)the corporation is designated as a foreign public benefit corporation and its corporation assets in this state are being misapplied or wasted; or
(c)the corporation is designated as a foreign public benefit corporation and it is no longer able to carry out its purpose.