13.1-1056.2 - Involuntary cancellation of certificate of registration. - Virginia Statutes

§ 13.1-1056.2. Involuntary cancellation of certificate of registration.

A. The certificate of registration to transact business in the Commonwealthof any foreign limited liability company may be canceled involuntarily byorder of the Commission when it finds that the foreign limited liabilitycompany:

1. Has continued to exceed or abuse the authority conferred upon it by law;

2. Has failed to maintain a registered office or a registered agent in theCommonwealth as required by law;

3. Has failed to file any document required by this chapter to be filed withthe Commission;

4. No longer exists under the laws of the state or other jurisdiction of itsorganization; or

5. Has been convicted for a violation of 8 U.S.C. § 1324a(f), as amended, foractions of its members or managers constituting a pattern or practice ofemploying unauthorized aliens in the Commonwealth.

B. Before entering any such order the Commission shall issue a rule againstthe foreign limited liability company giving it an opportunity to be heardand show cause why such an order should not be entered. The Commission mayissue the rule on its own motion or on motion of the Attorney General.

C. The authority of a foreign limited liability company to transact businessin the Commonwealth ceases on the date shown on the order canceling itscertificate of registration.

D. The Commission's cancellation of a foreign limited liability company'scertificate of registration appoints the clerk of the Commission the foreignlimited liability company's agent for service of process in any proceedingbased on a cause of action arising during the time the foreign limitedliability company was registered to transact business in the Commonwealth.Service of process on the clerk of the Commission under this subsection isservice on the foreign limited liability company and shall be made on theclerk in accordance with § 12.1-19.1.

E. Cancellation of a foreign limited liability company's certificate ofregistration does not terminate the authority of the registered agent of theforeign limited liability company.

F. Any foreign limited liability company convicted of the offense listed insubdivision A 5 shall immediately report such conviction to the Commissionand file with the Commission an authenticated copy of the judgment or recordof conviction. A certificate of registration canceled pursuant to subdivisionA 5 shall not be eligible for reinstatement for a period of not less than oneyear.

(2008, c. 108; 2009, c. 167.)