355.751. Foreign corporation, certificate of authority — transportation of business.

230 words·~1 min read·/mo/chapter-355/355-751

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

355.751. Foreign corporation, certificate of authority — transportation of business. — 1. A foreign corporation may not transact business in this state until it obtains a certificate of authority from the secretary of state.

2. The following activities, among others, do not constitute transacting business within the meaning of subsection 1 of this section:

(1)Maintaining, defending, or settling any proceeding;

(2)Holding meetings of the board of directors or members or carrying on other activities concerning internal corporate affairs;

(3)Maintaining bank accounts;

(4)Maintaining offices or agencies for the transfer, exchange, and registration of memberships or securities or maintaining trustees or depositaries with respect to those securities;

(5)Selling through independent contractors;

(6)Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts;

(7)Creating or acquiring indebtedness, mortgages, and security interests in real or personal property;

(8)Securing or collecting debts or enforcing mortgages and security interests in property securing the debts;

(9)Owning real or personal property;

(10)Conducting an isolated transaction that is completed within thirty days and that is not one in the course of repeated transactions of a like nature;

(11)Transacting business in interstate commerce.

3. The list of activities in subsection 2 of this section is not exhaustive.

--------

(L. 1994 H.B. 1095)

Effective 7-01-95