[§414D-275]  Effect of certificate ofauthority.  (a)  A certificate of authority authorizes the foreigncorporation to which it is issued to transact business in this State subject tothe right of the State to revoke the certificate as provided in this chapter.

(b)  A foreign corporation with a validcertificate of authority has the same rights and enjoys the same privileges asand, except as otherwise provided by this chapter, is subject to the sameduties, restrictions, penalties, and liabilities now or later imposed on, adomestic corporation of like character.

(c)  This chapter does not authorize this Stateto regulate the organization or internal affairs of a foreign corporationauthorized to transact business in this State. [L 2001, c 105, pt of §1]