§414D-284  Procedure and effect of
revocation.  (a)  The department director upon determining that one or more
grounds exist under section 414D-283 for revocation of a certificate of
authority shall give written notice of the department director's determination
by mailing the notice to the foreign corporation at its last known address
appearing in the records of the department director.



(b)  If the foreign corporation does not
correct each ground for revocation or demonstrate to the reasonable satisfaction
of the department director that each ground for revocation
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 revoke the foreign corporation's certificate of authority by
signing a certificate of revocation that recites the ground or grounds for
revocation and its effective date.



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



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