[Previous] [Next]
§18-1137.
§18-1137.
ACTIONS BY AND AGAINST UNQUALIFIED FOREIGN CORPORATIONS
A. A foreign corporation which is required to comply with the
provisions of Sections 130 and 131 of this act and which has done
business in this state without authority shall not maintain any action
or special proceeding in this state unless and until such corporation
has been authorized to do business in this state and has paid to the
state all fees, penalties and franchise taxes for the years or parts
thereof during which it did business in this state without authority.
This prohibition shall not apply to any successor in interest of such
foreign corporation.
B. The failure of a foreign corporation to obtain authority to do
business in this state shall not impair the validity of any contract
or act of the foreign corporation or the right of any other party to
the contract to maintain any action or special proceeding thereon, and
shall not prevent the foreign corporation from defending any action or
special proceeding in this state.
[Previous] [Next]