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4-27-1420. Grounds for administrative dissolution. [Effective May 1, 2021.]
Arkansas Code — all titles (historical 2020) · legal_authorities
4-27-1420. Grounds for administrative dissolution. [Effective May 1, 2021.]
The Secretary of State may commence a proceeding under § 4-27-1421 to administratively dissolve a corporation if:
(1) the corporation does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law;
(2) the corporation does not deliver its annual franchise tax report to the Department of Finance and Administration within sixty (60) days after it is due;
(3) the corporation is without a registered agent in this state for sixty (60) days or more;
(4) the corporation does not notify the Secretary of State within sixty (60) days that its registered agent has been changed or has resigned; or
(5) the corporation's period of duration stated in its articles of incorporation expires.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-27-1420
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:4-27-1420:variant2
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: ccf9e3c7fa07e6b947e7e59fef4bec4732c4748d1c0a1af579f20a7707b0dcd8
Source location: content.xml paragraph 17422
Stored source content
4-27-1420. Grounds for administrative dissolution. [Effective May 1, 2021.]
The Secretary of State may commence a proceeding under § 4-27-1421 to administratively dissolve a corporation if:
(1) the corporation does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law;
(2) the corporation does not deliver its annual franchise tax report to the Department of Finance and Administration within sixty (60) days after it is due;
(3) the corporation is without a registered agent in this state for sixty (60) days or more;
(4) the corporation does not notify the Secretary of State within sixty (60) days that its registered agent has been changed or has resigned; or
(5) the corporation's period of duration stated in its articles of incorporation expires.
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Arkansas Code — all titles (historical 2020) · legal_authorities
4-27-1420. Grounds for administrative dissolution. [Effective until May 1, 2021.]
The Secretary of State may commence a proceeding under § 4-27-1421 to administratively dissolve a corporation if:
(1) the corporation does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law;
(2) the corporation does not deliver its annual franchise tax report to the Secretary of State within sixty (60) days after it is due;
(3) the corporation is without a registered agent in this state for sixty (60) days or more;
(4) the corporation does not notify the Secretary of State within sixty (60) days that its registered agent has been changed or has resigned; or
(5) the corporation's period of duration stated in its articles of incorporation expires.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-27-1420
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. Same stored citation; legal effect and authority still require review.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-27-1421. Procedure for and effect of administrative dissolution.
(a) If the Secretary of State determines that one (1) or more grounds exist under § 4-27-1420 for dissolving a corporation, he or she shall serve the corporation with written notice of his or her determination.
(b) If the corporation does not correct each ground for dissolution 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 (60) days after service of the notice is perfected, the Secretary of State shall administratively dissolve the corporation by signing a certificate of dissolution that recites the ground or grounds for dissolution and its effective date. The Secretary of State shall file the original of the certificate and serve a copy on the corporation.
(c) A corporation administratively dissolved continues its corporate existence but may not carry on any business except that necessary to wind up and liquidate its business and affairs under § 4-27-1405 and notify claimants under §§ 4-27-1406 and 4-27-1407.
(d) The administrative dissolution of a corporation does not terminate the authority of its registered agent.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-27-1421
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 4-27-1421. This identifies an authority to review, not proof of applicability.