10-203. Incorporation
A. Unless a delayed effective date is specified in the articles of incorporation,
incorporation occurs and the corporate existence begins when the articles of
incorporation and certificate of disclosure are delivered to the commission for filing.
B. The commission's filing of the articles of incorporation and certificate of
disclosure is conclusive proof that the incorporators satisfied all conditions precedent
to incorporation except in a proceeding by the state to cancel or revoke the
incorporation or involuntarily dissolve the corporation pursuant to chapter 14 of this
title.
C. Subject to section 10-124, if the commission determines that the requirements of
chapters 1 through 17 of this title for filing have not been met, the articles of
incorporation and certificate of disclosure shall not be filed and the corporate
existence terminates at the time the commission completes the determination. If the
corporate existence is terminated pursuant to this subsection, sections 10-1405, 10-1406
and 10-1407 apply.
D. Within sixty days after the commission approves the filing, a copy of the
articles of incorporation shall be published. An affidavit evidencing the publication
may be filed with the commission.
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