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504A.53 Involuntary dissolution.

A corporation may be dissolved involuntarily by a decree of the district court in an action filed by the attorney general when it is established that:

1. The corporation has failed to file its annual report within the time required by this chapter; or

2. The corporation procured its articles of incorporation through fraud; or

3. The corporation has continued to exceed or abuse the authority conferred upon it by law; or

4. The corporation has failed for ninety days to appoint and maintain a registered agent in this state; or

5. The corporation has failed for ninety days after change of its registered agent to file in the office of the secretary of state a statement of such change.

Section History: Early form

[C66, 71, 73, 75, 77, 79, 81, § 504A.53]

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Last update: Mon Jan 27 16:05:08 CST 1997
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