LD 2487, Page 15 - 119th Legislature, SECOND REGULAR Session

	1. A corporation required to deliver an annual report for
filing as provided by section 1301 that fails to deliver its
properly completed annual report to the Secretary of State shall
pay, in addition to the regular annual report fee, the sum of
$25, providing the report is received by the Secretary of State
prior to revocation or suspension. Upon a corporation's failure
to file the annual report and to pay the annual report fee or the
penalty, the Secretary of State, notwithstanding Title 4, chapter
25 5 and Title 5, chapter 375, shall revoke a foreign
corporation's authority to do business in this State and suspend
a domestic corporation from doing business. The Secretary of
State shall use the procedures set forth in section 1210,
relative to revoking the right of foreign corporations to do
business in this State, for suspending domestic corporations. A
foreign corporation whose authority to do business in this State
has been revoked under this subsection that wishes to do business
again in this State must be authorized as provided in section
1202. A domestic corporation that has been suspended under this
subsection may be reinstated by filing the current annual report,
together with the current annual filing fee, and by paying the
reinstatement fee of $125 for each year the corporation failed to
file an annual report. The maximum reinstatement fee may not
exceed $500, regardless of the number of delinquent reports or
the period of delinquency.

Sec. 37. 13-B MRSA §1210, sub-§1, as amended by PL 1993, c. 316, §42,
is further amended to read:

1. Secretary of State may revoke authority. Notwithstanding
Title 4, chapter 25 5, and Title 5, chapter 375, the authority of
a foreign corporation to carry on activities in this State may be
revoked by the Secretary of State, as provided by subsections 2
and 3, when:

A. The corporation has failed to file its annual report
within the time specified by this Act, or has failed to pay
any fees or penalties prescribed by this Act, when they have
become due and payable;

B. The corporation has failed to appoint and maintain a
registered agent in this State as required by section 1212;

C. The corporation has failed, after change of its
registered office or registered agent, to file in the office
of the Secretary of State a statement of such change as
required by section 1212;

D. The corporation has failed to file in the office of the
Secretary of State within the required time any articles of

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