10-11501. Authority to conduct affairs
required


A. A foreign corporation shall not conduct affairs in this state until it is
granted authority to transact business in this state as provided in this chapter from the
commission.


B. The following activities, among others, do not constitute conducting affairs
within the meaning of subsection A:


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 same.


9. Owning, without more, 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. Conducting affairs in interstate commerce.


12. Being a limited partner of a limited partnership or a member of a limited
liability company.


C. The list of activities in subsection B is not exhaustive.