Section 181.1530. Grounds for revocation.

 

(1)   Permissive revocation by department. Except as provided in sub. (1m) , the department may bring a proceeding under s. 181.1531 to revoke the certificate of authority of a foreign corporation authorized to transact business in this state if any of the following applies:

(a) The foreign corporation fails to file its annual report with the department within 4 months after it is due.

(b) The foreign corporation does not pay, within 4 months after they are due, any fees or penalties due the department under this chapter.

(c) The foreign corporation is without a registered agent or registered office in this state for at least 6 months.

(d) The foreign corporation does not inform the department under s. 181.1508 or 181.1509 that its registered agent or registered office has changed, that its registered agent has resigned or that its registered office has been discontinued, within 6 months of the change, resignation or discontinuance.

(e) The foreign corporation obtained its certificate of authority through fraud.

(f) The department receives a duly authenticated certificate from the secretary of state or other official having custody of corporate records in the state or country under whose law the foreign corporation is incorporated stating that it has been dissolved or has disappeared as the result of a merger.

(g) The foreign corporation violates s. 940.302 (2) or 948.051 (2) .

(1m)   Mandatory revocation by department. If the department receives a certificate under sub. (1) (f) and a statement by the foreign corporation that the certificate is submitted by the foreign corporation to terminate its authority to transact business in this state, the department shall issue a certificate of revocation under s. 181.1531 (2) (b) .

(2)   Revocation by a court. A court may revoke, under s. 946.87 , the certificate of authority of a foreign corporation authorized to transact business in this state. The court shall notify the department of the action, and the department shall issue a certificate of revocation under s. 181.1531 (2) (b) .

1997 a. 79 ; 2007 a. 116 .