Page:United States Statutes at Large Volume 68 Part 1.djvu/259

 68 S T A T. ]

PUBLIC LAW 389-JUNE 8, 1954

227

the corporation may be served, after the filing thereof, upon the Commissioners. APPLICATION TO FOREIGN CORPORATIONS TRANSACTING BUSINESS ON THE EFFECTIVE DATE OF THIS ACT

SEC. 118. Foreign corporations transacting business in the District at the time this Act takes effect for a purpose or purposes for which a certificate of authority is required under the provisions of this Act shall, within six months after the effective date of this Act, procure a certificate of authority and shall otherwise comply with all applicable provisions of this Act. Failure to secure a certificate of authority within the time provided in this section shall subject the corporation to all the penalties, liabilities, and restrictions provided in this Act for transacting business without a certificate of authority. TRANSACTING

BUSINESS

WITHOUT CERTIFICATE OF AUTHORITY

SEC. 119. (a) No foreign corporation which is subject to the provisions of this Act and which transacts business in the District without a certificate of authority shall be permitted to maintain an action at law or in equity in any court of the District until such corporation shall have obtained a certificate of authority. Nor shall an action at law or in equity be maintained in any court of the District by any successor or assignee of such corporation on any right, claim, or demand arising out of the transaction of business by such corporation in the District until a certificate of authority shall have been obtained by such corporation or by a corporation which has acquired all or substantially all of its assets. (b) The failure of a foreign corporation to obtain a certificate of authority to transact business in the District shall not impair the validity of any contract or act of such corporation, and shall not prevent such corporation from defending any action at law or suit in equity in any court of the District. (c) A foreign corporation which transacts business in the District without a certificate of authority shall be liable to the District, for the years or parts thereof during which it transacted business in the District without a certificate of authority, in an amount equal to all fees and other charges which would have been imposed by this Act upon such corporation had it duly applied for and received a certificate of authority to transact business in the District as required by this Act and thereafter filed all reports required by this Act; and in addition thereto it shall be liable for a penalty of not in excess of $500. The Commissioners shall bring proceedings to recover all amounts due the District under the provisions of this section. Such charges and penalties shall be paid to the District before any certificate of authority is issued to such foreign corporation. COMMISSIONERS; DUTIES AND FUNCTIONS

SEC, 120. (a) The Commissioners shall be charged with the administration and enforcement of this Act. Said Commissioners are authorized to employ such personnel as may be necessary for the administration of this Act, within appropriations made by Congress. The compensation of such personnel shall be fixed in accordance with the provisions of the Classification Act of 1949, as amended. (b) The Commissioners may transfer any or all of the functions vested in them by this Act to any agent designated by them pursuant to the provisions of this Act, or to any office or agency established by them pursuant to Reorganization Plan Numbered 5 of 1952. •^

63 Stat. 954. s use 1071 note, ^6 Stat. 824. D. C. Code title 1 ^pp.

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