§ 55-14-21. Procedure for and effect of administrative dissolution.
§55‑14‑21. Procedure for and effect of administrative dissolution.
(a) If the Secretary ofState determines that one or more grounds exist under G.S. 55‑14‑20for dissolving a corporation, he shall mail the corporation written notice ofhis determination.
(b) If the corporationdoes not correct each ground for dissolution or demonstrate to the reasonablesatisfaction of the Secretary of State that each ground determined by theSecretary of State does not exist within 60 days after notice is mailed, the Secretaryof State shall administratively dissolve the corporation by signing acertificate of dissolution that recites the ground or grounds for dissolutionand its effective date. The Secretary of State shall file the original of thecertificate and mail a copy to the corporation.
(c) The provisions ofG.S. 55‑14‑05, 55‑14‑06, and 55‑14‑07 applyto a corporation administratively dissolved.
(d) The administrativedissolution of a corporation does not terminate the authority of its registeredagent. (1989, c. 265, s. 1.)