47-1A-1502.2. Penalties for transacting business without certificate of authority--Collection.
86 words·~1 min read·
/sd/title-47/chapter-47-1/47-1a-1502-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A foreign corporation is liable for a civil penalty of one hundred dollars for each day, but not to exceed a total of one thousand dollars for each year, it transacts business in this state without a certificate of authority. The attorney general may collect all penalties due under this section.
Notwithstanding § 47-1A-1502 , the failure of a foreign corporation to obtain a certificate of authority does not impair the validity of its corporate acts or prevent it from defending any proceeding in this state.