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House Journal: Page 1460: Tuesday, April 9, 1996

30   section.  The secretary of state shall forward the
31   articles as provided in this chapter to the county
32   recorder where the principal place of business of the
33   corporation is to be located.  The secretary of state
34   shall then notify the appropriate officer of the state
35   or country of the corporation's last domicile that the
36   corporation is now a domestic corporation domiciled in
37   this state.  This section applies to life insurance
38   companies, and to insurance companies doing business
39   under chapter 515.
40     Sec. ___.  Section 490.1420, subsection 1, Code
41   1995, is amended by striking the subsection.
42     Sec. ___.  Section 490.1420, subsection 2, Code
43   1995, is amended to read as follows:
44     2.  The corporation has not delivered an annual
45   report to the secretary of state in a form that meets
46   the requirements of section 490.1622, within sixty
47   days after it is due, or has not paid the filing fee
48   as provided in section 490.122, within sixty days
49   after it is due.
50     Sec. ___.  Section 490.1421, Code 1995, is amended

Page   3

 1   by adding the following new subsection:
 2     NEW SUBSECTION.  5.  The secretary of state's
 3   administrative dissolution of a corporation pursuant
 4   to this section appoints the secretary of state the
 5   corporation's agent for service of process in any
 6   proceeding based on a cause of action which arose
 7   during the time the corporation was authorized to
 8   transact business in this state.  Service of process
 9   on the secretary of state under this subsection is
10   service on the corporation.  Upon receipt of process,
11   the secretary of state shall serve a copy of the
12   process on the corporation as provided in section
13   490.504.  This subsection does not preclude service on
14   the corporation's registered agent, if any.
15     Sec. ___.  Section 490.1422, subsection 1, Code
16   1995, is amended to read as follows:
17     1.  A corporation administratively dissolved under
18   section 490.1421 may apply to the secretary of state
19   for reinstatement within two years after the effective
20   date of dissolution.  The application must meet all of
21   the following requirements:
22     a.  Recite the name of the corporation at its date
23   of dissolution and the effective date of its
24   administrative dissolution.
25     b.  State that the ground or grounds for
26   dissolution either did not exist or have been
27   eliminated.
28     c.  State a corporate name that satisfies the
29   requirements of section 490.401.

Iowa General Assembly

Index: House Journal (76th General Assembly: Session 2)

© 1996 Cornell College and League of Women Voters of Iowa

Comments? hjourn@legis.iowa.gov.

Last update: Wed Apr 10 13:30:02 CDT 1996
URL: /DOCS/GA/76GA/Session.2/HJournal/01400/01460.html
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