Section 10-2B-14.20 Grounds for administrative dissolution. - Alabama Statutes

Section 10-2B-14.20

Grounds for administrative dissolution.

The Secretary of State may commence a proceeding under Section 10-2B-14.21 to administratively dissolve a corporation if:

(1) The corporation does not pay within six months after they are due any franchise taxes or penalties imposed by this chapter or other law;

(2) The corporation does not deliver its annual report to the Secretary of State within six months after it is due;

(3) The corporation is without a registered agent or registered office in this state for 60 days or more;

(4) The corporation does not notify the Secretary of State within 60 days that its registered agent or registered office has been changed, that its registered agent has resigned, or that its registered office has been discontinued; or

(5) The corporation's period of duration stated in its articles of incorporation expires.

(Acts 1994, No. 94-245, p. 343, §1.)