2018 Vermont Statutes
Title 11C - Mutual Benefit Enterprises
Chapter 14 - Foreign Enterprises
§ 1406 Revocation of certificate of authority

§ 1406. Revocation of certificate of authority

(a) A certificate of authority may be revoked by the Secretary of State in the manner provided in subsection (b) of this section if the foreign enterprise does not:

(1) pay, not later than 60 days after the due date, any fee, tax, or penalty due to the Secretary of State under this title;

(2) deliver, not later than 60 days after the due date, its annual report;

(3) appoint and maintain an agent for service of process; or

(4) deliver for filing a statement of change not later than 30 days after a change has occurred in the name of the agent or the address of the foreign enterprise's designated office.

(b) To revoke a certificate of authority, the Secretary of State shall file a notice of revocation and send a copy to the foreign enterprise's registered agent for service of process in this State or, if the foreign enterprise does not appoint and maintain an agent for service of process in this State, to the foreign enterprise's principal office. The notice shall state:

(1) the revocation's effective date, which shall be at least 60 days after the date the Secretary of State sends the copy; and

(2) the foreign enterprise's noncompliance that is the reason for the revocation.

(c) The authority of a foreign enterprise to transact business in this State ceases on the effective date of the notice of revocation unless before that date the foreign enterprise cures each failure to comply stated in the notice. If the foreign enterprise cures the failures, the Secretary of State shall so indicate on the filed notice. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)