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499.76 Grounds for administrative dissolution.

The secretary of state may commence a proceeding under section 499.77 to administratively dissolve an association if any of the following apply:

1. The association does not pay within sixty days after they are due any franchise taxes or penalties imposed by this chapter or other law.

2. The association has not delivered an annual report to the secretary of state in a form that meets the requirements of section 499.49, within sixty days after it is due.

3. The association is without a registered agent or registered office in this state for sixty days or more.

4. The association does not notify the secretary of state within sixty 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.

5. The association's period of duration stated in its articles of incorporation expires.

Section History: Recent form

93 Acts, ch 126, §23

Internal References

Referred to in § 499.77

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