(1) A foreign corporation may not transact business in this state until it has been authorized to do so by the Secretary of State.
(2) The following activities, among others, do not constitute transacting business within the meaning of subsection (1) of this section:
(a) Maintaining, defending or settling any proceeding.
(b) Holding meetings of the board of directors or members or carrying on other activities concerning internal corporate affairs.
(c) Maintaining bank accounts.
(d) Maintaining offices or agencies for the transfer, exchange and registration of the corporationís own memberships or securities or maintaining trustees or depositaries with respect to those securities.
(e) Selling through independent contractors.
(f) Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts.
(g) Creating or acquiring indebtedness, mortgages and security interests in real or personal property.
(h) Securing or collecting debts or enforcing mortgages and security interests in property securing the debts.
(i) Owning, without more, real or personal property.
(j) Conducting an isolated transaction that is completed within 30 days and that is not one in the course of repeated transactions of a like nature.
(k) Transacting business in interstate commerce.
(L) Soliciting funds.
(3) The list of activities in subsection (2) of this section is not exhaustive. [1989 c.1010 §147]Section: Previous 65.654 65.657 65.661 65.664 65.667 65.671 65.674 65.701 65.704 65.707 65.711 65.714 65.717 65.721 65.724 Next
Last modified: August 7, 2008