2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.1531 - PROCEDURE FOR AND EFFECT OF REVOCATION.

        490.1531  PROCEDURE FOR AND EFFECT OF REVOCATION.
         1.  If the secretary of state determines that one or more grounds
      exist under section 490.1530 for revocation of a certificate of
      authority, the secretary of state shall serve the foreign corporation
      with written notice of the secretary's determination under section
      490.1510.
         2.  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 days after service of the notice is
      perfected under section 490.1510, the secretary of state may revoke
      the foreign corporation's certificate of authority by signing 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 section 490.1510.
         3.  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.
         4.  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 mail a copy of the process to the secretary of the
      foreign corporation at its principal office shown in its most recent
      biennial report or in any subsequent communication received from the
      corporation stating the current mailing address of its principal
      office, or, if none is on file, in its application for a certificate
      of authority.
         5.  Revocation of a foreign corporation's certificate of authority
      does not terminate the authority of the registered agent of the
      corporation.  

         89 Acts, ch 288, §173; 97 Acts, ch 171, § 18
         Referred to in § 490.1510, 490.1530