§414D-284  Procedure and effect ofrevocation.  (a)  The department director upon determining that one or moregrounds exist under section 414D-283 for revocation of a certificate ofauthority shall give written notice of the department director's determinationby mailing the notice to the foreign corporation at its last known addressappearing in the records of the department director.

(b)  If the foreign corporation does notcorrect each ground for revocation or demonstrate to the reasonable satisfactionof the department director that each ground for revocationdetermined by the department director does not exist within sixty days afterthe date of mailing of the department director's written notice, the departmentdirector may revoke the foreign corporation's certificate of authority bysigning a certificate of revocation that recites the ground or grounds forrevocation and its effective date.

(c)  Upon revoking any certificate ofauthority, the department director shall issue a certificate of revocation thatshall be filed in the department director's office, and the authority of theforeign corporation to transact business in this State shall immediately cease.

(d)  Revocation of a foreign corporation'scertificate of authority does not terminate the authority of the registeredagent of the corporation. [L 2001, c 105, pt of §1; am L 2003, c 124, §40]