271B.15-050 Effect of certificate of authority. (Repealed, effective January 1, 2011)
(1) A certificate of authority shall authorize the foreign corporation to which it is issued
to transact business in this state subject, however, to the right of the state to revoke <br>the certificate as provided in this chapter.
(2) A foreign corporation with a valid certificate of authority shall have the same but no
greater rights and shall have the same but no greater privileges as, and except as <br>otherwise provided by this chapter shall be subject to the same duties, restrictions, <br>penalties, and liabilities now or later imposed on, a domestic corporation of like <br>character.
(3) This chapter shall not authorize this state to regulate the organization or internal
affairs, including the inspection of corporate books, records, and documents, of a <br>foreign corporation authorized to transact business in this state.
Effective: July 15, 2010 <br>History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 72, effective July 15, 2010;
and repealed ch. 151, sec. 151, effective January 1, 2011. -- Amended 2007 Ky. Acts <br>ch. 137, sec. 72, effective June 26, 2007. -- Created 1988 Ky. Acts ch. 23, sec. 157, <br>effective January 1, 1989.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which <br>reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed <br>effective as of June 26, 2007, and those provisions are hereby made expressly <br>retroactive to that date, with the remainder of the text of those sections being <br>unaffected by the provisions of this section."
Legislative Research Commission Note (1/1/2011). 2010 Ky. Acts ch. 151, sec. 151,
has repealed this statute effective January 1, 2011.
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