31A-1-108 - Corporations in the process of organizing.
31A-1-108. Corporations in the process of organizing.
Corporations in the process of organizing on July 1, 1986, may continue to organize underformer Title 31. Any corporation so organizing that does not obtain a certificate of authority byJuly 1, 1987, shall make appropriate refunds and reimbursements to subscribers, incorporators,and creditors in accordance with a plan approved by the commissioner. This plan shall specifythe date that the legal existence of the corporation terminates.
Enacted by Chapter 242, 1985 General Session