Page:United States Statutes at Large Volume 68 Part 1.djvu/258

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PUBLIC LAW 389-JUNE 8, 1954

[68 S T A T.

(b) The certificate of withdrawal, together with the duplicate original of the application for withdrawal affixed thereto, shall be recorded in the office of the Recorder of Deeds. Upon the issuance of such certificate of withdrawal, the authority of the corporation to transact business in the District shall cease. REVOCATION OF CERTIFICATE OF AUTHORITY

SEC. 115. The certificate of authority of a foreign corporation to transact business in the District may be revoked by the Commissioners when they find that— (a) The certificate of authority of the corporation was procured through fraud practiced upon the District; or (b) The corporation has continued to exceed or abuse the authority conferred upon it by this Act; or (c) The corporation has failed for a period of ninety days to pay any fees, charges, or penalties prescribed by this Act; or (d) The corporation has failed for ninety days to appoint and maintain a registered agent in the District; or (e) The corporation has failed for thirty days after change of its registered office or registered agent to file with the Commissioners a statement of such change; or (f) The corporation has failed to file its annual report as required by this Act; or (g) The corporation for a period of two years has not transacted any business in the District; or (h) The corporation has failed to file with the Commissioners a duly authenticated copy of each amendment to its articles of incorporation within thirty days after such amendment becomes effective: or (i) A misrepresentation has been made of any material matter in any application, report, affidavit, or other document submitted by such corporation pursuant to this Act, in which event the Commissioners shall give not less than thirty days' notice forwarded by registered mail, addressed to such corporation at its principal office as the same appears in the records of the Commissioners or at its registered office in the District, of their intent to revoke the certificate of authority. I S S U A N C E OF CERTIFICATE OF REVOCATION

• S E C 116. (a) Upon revoking any such certificate of authority, the Commissioners shall— (1) issue a certificate of revocation in duplicate; (2) file one of such certificates in his office; (3) mail to such corporation at its registered office in the District a notice of such revocation. The certificate of revocation, together withi the duplicate original affixed thereto, shall be recorded in the office of the Recorder of Deeds. (b) Upon the issuance of such certificate of revocation, the authority of the corporation to transact business in the District shall cease. EFFECT OF REVOCATION OR W I T H D R A W A L U P O N ACTIONS A N D CONTRACTS

SEC. 117. The revocation of certificate of authority or the voluntary withdrawal of a foreign corporation whereby its authority to do business in the District shall cease and be determined, shall not affect any action then pending, nor affect any right of action upon any contract made by the corporation in the District before such revocation or withdrawal, and, in any action upon any liability or obligation so incurred before the revocation or withdrawal, the process against

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