§414D-249  Procedure for and effect of
administrative dissolution and effect of expiration.  (a)  If the
department director determines that one or more grounds exist under section
414D-248 for dissolving a corporation, the department director shall give written
notice of the department director's determination by mailing the notice to the
corporation at its last known address appearing in the records of the
department director.



(b)  If the corporation does not correct each
ground for dissolution or demonstrate to the reasonable satisfaction of the
department director that each ground determined by the department director does
not exist within sixty days after the date of mailing of the department
director's written notice, the department director may administratively
dissolve the corporation by signing a decree of dissolution that recites any
grounds for dissolution and its effective date.  The decree shall be filed in
the department director's office.



(c)  A corporation administratively dissolved
continues its corporate existence but may not carry on any activities except
those necessary to wind up and liquidate its affairs under section 414D-245 and
notify its claimants under sections 414D-246 and 414D-247.



(d)  The administrative dissolution of a corporation
does not terminate the authority of its registered agent.



(e)  If a corporation's period of duration
specified in its articles of incorporation has expired, the corporation
continues its corporate existence but may not carry on any activities except
those necessary to wind up and liquidate its business and affairs under section
414D-245 and notify claimants under sections 414D-246 and 414D-247.



(f)  The corporation, at any time within two
years of the expiration of its period of duration, may amend its articles of
incorporation to extend its period of duration and, upon the amendment, the
corporation may resume carrying on its activities as if the expiration had
never occurred; provided that if the name of the corporation, or a name
substantially identical is registered or reserved by another entity, or if that
name or a name substantially identical is registered as a trade name,
trademark, or service mark, the extension of its period of duration shall be
allowed only upon the registration of a new name by the corporation pursuant to
the amendment provisions of this chapter. [L 2001, c 105, pt of §1; am L 2003,
c 124, §33; am L 2006, c 184, §12; am L 2008, c 54, §5; am L 2009, c 23, §5]