§ 12165. — 12165. (Added by Stats. 1969, Ch. 858.)

Subject to the annual fee provisions herein, every certificate of authority issued or held under this part shall be for an indefinite term and, unless sooner revoked by the commissioner, shall terminate upon occurrence of any of the following:
(a)
Upon the holder’s ceasing to exist as a separate entity.
(b)
Upon the winding up, or dissolution, or expiration, or forfeiture of the holder’s corporate existence.
(c)
Upon completion of the withdrawal procedure prescribed by Article 15 (commencing with Section 1070) of Chapter 1 of Part 2 of Division 1 of this code and surrender by the holder of its certificate of authority and cancellation of the same by the commissioner. All provisions of such article not inconsistent with this part shall apply.
(d)
Upon the entry of a final court order in a proceeding under said Article 14 (commencing with Section 1010), Chapter 1 of Part 2 of Division 1 of this code.

Legislative History

Added by Stats. 1969, Ch. 858.