27-28-102. When proceeding may be brought against a corporation for misconduct.
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/mt/title-27/chapter-28/part-1/27-28-102·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
27-28-102 . When proceeding may be brought against a corporation for misconduct. A like action may be brought against a corporation when it has:
(1)offended against a provision of an act for its creation or renewal or any act altering or amending such acts;
(2)forfeited its privileges and franchises by nonuser;
(3)committed or omitted an act which amounts to a surrender of its corporate rights, privileges, and franchises;
(4)misused a franchise or privilege conferred upon it by law or exercised a franchise or privilege not so conferred.