California Financial Code 1885 – No foreign corporation shall transact in this state the business …
No foreign corporation shall transact in this state the business defined in this article or any part thereof, unless such corporation shall have:
(a) Been authorized by its charter to carry on such business and shall have complied with the laws of the state or country under which it is incorporated.
Terms Used In California Financial Code 1885
- 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 corporation organized under the laws of this state for the purpose of transacting business pursuant to this article. See California Financial Code 1850
- Writing: includes any form of recorded message capable of comprehension by ordinary visual means. See California Financial Code 8
(b) Made the deposit with the State Treasurer required by this article.
(c) Designated the commissioner, by an instrument in writing duly executed, its true and lawful attorney upon whom all process in any action or proceeding by any resident of this state against it may be served with the same effect as if it were a domestic corporation and had been lawfully served with process within this state.
(d) Received a license duly issued to it by the commissioner.
(Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.)