§ 15.20.

304 words·~1 min read·/vt/15-20-2

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

§ 15.20. Withdrawal of foreign corporation

(a)A foreign corporation authorized to transact business in this State may not withdraw from this State until it obtains a certificate of withdrawal from the Secretary of State.

(b)A foreign corporation authorized to transact business in this State may apply for a certificate of withdrawal by delivering an application to the Secretary of State for filing. The application must set forth:

(1)the name of the foreign corporation and the name of the state or country under whose law it is incorporated;

(2)that it is not transacting business in this State and that it surrenders its authority to transact business in this State;

(3)that it revokes the authority of its registered agent for service of process to accept service on its behalf and appoints the Secretary of State as its agent for service of process in any proceeding based on a cause of action arising during the time it was authorized to do business in this State;

(4)a mailing address to which the Secretary of State may mail a copy of any process served on him or her under subdivision

(3)of this subsection; and

(5)a commitment to notify the Secretary of State in the future of any change in the mailing address.

(c)After the withdrawal of the corporation is effective, service of process on the Secretary of State under this section is service on the foreign corporation. Upon receipt of process, the Secretary of State shall mail a copy of the process to the foreign corporation at the post office address set forth in its application for withdrawal, or otherwise perfect service under section 15.10 of this title. (Added 1995, No. 179 (Adj. Sess.), § 1, eff. Jan. 1, 1997; amended 2025, No. 10, § 20, eff. July 1, 2025.)