§ 17-16-1531 — Procedure for and effect of revocation

Wyoming § 17-16-1531

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 16: WYOMING BUSINESS CORPORATION ACT
• Art. 15: FOREIGN CORPORATIONS

Text

(a) If the secretary of state determines that one (1) or
more grounds exist under W.S. 17-16-1530 for revocation of a
certificate of authority, he shall serve the foreign corporation
with written notice of his determination under W.S. 17-28-104.
(b) If the foreign corporation does not correct each
ground for revocation or demonstrate to the reasonable
satisfaction of the secretary of state that each ground
determined by the secretary of state does not exist within sixty
(60) days after service of the notice is perfected under W.S.
17-28-104, the secretary of state may revoke the foreign
corporation's certificate of authority by signing, either
manually or in facsimile, a certificate of revocation that
recites the ground or grounds for revocation and its effective
date. The secretary of state shall file the original of the
certificate and serve a copy on the foreign corporation under
W.S. 17-28-104.
(c) The authority of a foreign corporation to transact
business in this state ceases on the date shown on the
certificate revoking its certificate of authority.
(d) The secretary of state's revocation of a foreign
corporation's certificate of authority appoints the secretary of
state the foreign corporation's agent for service of process in
any proceeding based on a cause of action which arose during the
time the foreign corporation was authorized to transact business
in this state. Service of process on the secretary of state
under this subsection is service on the foreign corporation.
Upon receipt of process, the secretary of state shall either:
(i) Mail a copy of the process to the secretary of
the foreign corporation at its principal office shown in its
most recent annual report or in any subsequent communication
received from the corporation stating the current mailing
address of its principal office, or, if none are on file, in its
application for a certificate of authority; or
(ii) Electronically submit a copy of the process to
the foreign corporation's email address.
(e) Revocation of a foreign corporation's certificate of
authority does not terminate the authority of the registered
agent of the corporation.