§ 55A-15-01. Authority to conduct affairs required.
Article15.
Foreign Corporations.
Part 1. Certificate ofAuthority.
§ 55A‑15‑01. Authority to conduct affairs required.
(a) A foreigncorporation shall not conduct affairs in this State until it obtains acertificate of authority from the Secretary of State.
(b) Without excludingother activities which might not constitute conducting affairs in this State, aforeign corporation shall not be considered to be conducting affairs in thisState solely for the purposes of this Chapter, by reason of carrying on in thisState any one or more of the following activities:
(1) Maintaining ordefending any action or suit or any administrative or arbitration proceeding,or affecting the settlement thereof or the settlement of claims or disputes;
(2) Holding meetings ofits directors or members or carrying on other activities concerning itsinternal affairs;
(3) Maintaining bankaccounts or borrowing money in this State, with or without security, even ifsuch borrowings are repeated and continuous transactions;
(4) Maintaining officesor agencies for the transfer, exchange, and registration of memberships orsecurities, or appointing and maintaining trustees or despositories withrelation to those securities;
(5) Soliciting orprocuring orders, whether by mail or through employees or agents or otherwise,where the orders require acceptance without this State before becoming bindingcontracts;
(6) Making or investingin loans with or without security including servicing of mortgages or deeds oftrust through independent agencies within the State, the conducting offoreclosure proceedings and sale, the acquiring of property at foreclosuresale, and the management and rental of such property for a reasonable timewhile liquidating its investment, provided no office or agency therefor ismaintained in this State;
(7) Taking security foror collecting debts due to it or enforcing any rights in property securing thesame;
(8) Conducting affairsin interstate commerce;
(9) Conducting anisolated transaction completed within a period of six months and not in thecourse of a number of repeated transactions of like nature;
(10) Selling throughindependent contractors;
(11) Owning, without more,real or personal property. (1955, c. 1230; 1993, c. 398, s. 1.)