§ 13.1-1056.2. (Effective April 1, 2009) Involuntary cancellation of certificate of registration by Commissio...
A. The certificate of registration to transact business in the Commonwealth of any foreign limited liability company may be canceled involuntarily by order of the Commission when it finds that the foreign limited liability company:
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 the Commonwealth as required by law;
3. Has failed to file any document required by this chapter to be filed with the Commission; or
4. No longer exists under the laws of the state or other jurisdiction of its organization.
B. Before entering any such order the Commission shall issue a rule against the foreign limited liability company giving it an opportunity to be heard and show cause why such an order should not be entered. The Commission may issue the rule on its own motion or on motion of the Attorney General.
C. The authority of a foreign limited liability company to transact business in the Commonwealth ceases on the date shown on the order canceling its certificate of registration.
D. The Commission's cancellation of a foreign limited liability company's certificate of registration appoints the clerk of the Commission the foreign limited liability company's agent for service of process in any proceeding based on a cause of action arising during the time the foreign limited liability company was registered to transact business in the Commonwealth. Service of process on the clerk of the Commission under this subsection is service on the foreign limited liability company and shall be made on the clerk in accordance with § 12.1-19.1.
E. Cancellation of a foreign limited liability company's certificate of registration does not terminate the authority of the registered agent of the foreign limited liability company.
(2008, c. 108.)
Sections: Previous 13.1-1051 13.1-1052 13.1-1053 13.1-1054 13.1-1055 13.1-1056 13.1-1056.1 13.1-1056.2 13.1-1056.3 13.1-1057 13.1-1058 13.1-1059 13.1-1060 13.1-1060.1 13.1-1061 NextLast modified: April 16, 2009