§ 17-16-1505 — Effect on certificate of authority

(a) A certificate of authority authorizes the foreign
corporation to which it is issued to transact business in this
state subject, however, to the right of the state to revoke the
certificate as provided in this act.
(b) A foreign corporation with a valid certificate of
authority has the same but no greater rights and has the same
but no greater privileges as, and except as otherwise provided
by this act is subject to the same duties, restrictions,
penalties and liabilities now or later imposed on, a domestic
corporation of like character.
(c) This act does not authorize this state to regulate the
organization or internal affairs of a foreign corporation
authorized to transact business in this state.