|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 24
|
|
|
|
|
172
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHAPTER 24
(House Bill 311)
|
|
|
|
|
|
|
|
|
|
AN ACT concerning
|
|
|
|
|
|
|
|
|
Foreign Corporations -
Forfeiture of Right To Do Intrastate Business
FOR the purpose of providing for forfeiture by foreign
corporations of the right to do intrastate business for
failure to pay late filing penalties within certain time
limits; and providing for certain procedures to be followed.
BY repealing and reenacting, with amendments,
Article - Corporations and Associations
Section 7-304
Annotated Code of Maryland
(1975 Volume and 1982 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Corporations and Associations
7-304.
(a) The Department may forfeit the right of any foreign
corporation to do intrastate business in this State if the
corporation fails to file with the Department any report OR FAILS
TO PAY ANY LATE FILING PENALTIES required by law:
(1) Within the time required by law; and
(2) Thereafter, within 30 days after the Department
makes a written demand for the delinquent report OR LATE FILING
PENALTIES.
(b) Unless the Department excuses a reasonable delay for
good cause shown, the forfeiture is effective 15 days after
written notice of forfeiture from the Department, without
proceedings of any kind either at law or in equity.
(c) The demand for a delinquent report OR LATE FILING
PENALTIES and the notice of forfeiture shall be addressed to the
corporation:
(1) At its address on file with the Department; or
(2) If it has no address on file with the Department,
in care of the Secretary of State or corresponding official of
the place where it was organized or is existing, if known to the
Department.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
