§ 17-19-1502 — Consequences of transacting business without authority

(a) A foreign corporation transacting business in this
state without a certificate of authority shall not maintain a
proceeding in any court in this state until it obtains a
certificate of authority.
(b) The successor to a foreign corporation that transacted
business in this state without a certificate of authority and
the assignee of a cause of action arising out of that business
shall not maintain a proceeding on that cause of action in any
court in this state until the foreign corporation or its
successor obtains a certificate of authority.
(c) A court may stay a proceeding commenced by a foreign
corporation, its successor or assignee until it determines
whether the foreign corporation or its successor requires a
certificate of authority. If it so determines, the court may
further stay the proceeding until the foreign corporation or its
successor obtains the certificate.
(d) Repealed By Laws 2000, Ch. 35, § 2.
(e) Notwithstanding any other provision of this section,
the failure of a foreign corporation to obtain a certificate of
authority does not impair the validity of its corporate acts or
prevent it from defending any proceeding in this state.