Section 7-103 - Activities not considered intrastate business.
§ 7-103. Activities not considered intrastate business.
In addition to any other activities which may not constitute doing intrastate business in this State, for the purposes of this article, the following activities of a foreign corporation do not constitute doing intrastate business in this State:
(1) Maintaining, defending, or settling an action, suit, claim, dispute, or administrative or arbitration proceeding;
(2) Holding meetings of its directors or stockholders or carrying on other activities which concern its internal affairs;
(3) Maintaining bank accounts;
(4) Maintaining offices or agencies for the transfer, exchange, and registration of its securities;
(5) Appointing and maintaining trustees or depositaries with respect to its securities;
(6) Transacting business exclusively in interstate or foreign commerce; and
(7) Conducting an isolated transaction not in the course of a number of similar transactions.
[An. Code 1957, art. 23, § 88; 1975, ch. 311, § 2.]