Showing posts with label transact business. Show all posts
Showing posts with label transact business. Show all posts

Monday, January 25, 2010

Is there any penalty to transact business without getting certificate of authority?

Yes, if any entity who would not get certificate of authority then:

* the entity cannot maintain an action, suit, or proceeding in a court until it registers;
* the attorney general can enjoin the entity from transacting business in the state;
* the entity is subject to a civil penalty equal to all fees and taxes that would have been imposed if the entity had registered when first required; and
* If the entity has transacted business in the state for more than ninety (90) days, the secretary of state may condition the filing of the registration on the payment of a late filing fee equal to the registration fee for each year or part of year of delinquency.