Page:United States Statutes at Large Volume 76.djvu/334

 286

PUBLIC LAW 87-569-AUG. 6, 1962

[76 STAT. 1

I N V 0 1. U N T A R Y DISSOI^UTION

'

SEC. 58. (a) A corporation may be dissolved involuntarily by a decree of the coiu't in an action instituted by the Commissioners in the name of the District of Columbia when it is made to appear to the court that— (1) the franchise of the corporation was procured through fraud; or (2) the corporation has continued to exceed or abuse the authority conferred upon it by this Act; or (3) the corporation has failed for ninety days to appoint and maintain a registered agent as provided in this Act; or (4) the corporation has failed for ninety days after change of its registered office or registered agent to deliver to the Commissioners a statement of such change. (b) At least thirty days before any action for the involuntary dissolution of a corporation shall be filed by the Commissioners, they shall notify the corporation by certified or registered mail addressed to such corporation at its registered office a notice of their intention to file such suit and the reason therefor. If, before action is filed, the corporation as the case may be shall submit satisfactory evidence that said franchise was not procured through fraud or that the corporation has not exceeded or abused such authority or shall appoint or maintain a registered agent as provided in this Act, or deliver to the Commissioners the required statement of change of registered agent, the Commissioners shall not file an action against such corporation for such cause. If, after action is filed, for a reason stated in paragraph (3) or (4) of the preceding subsection the corporation shall as the case may be appoint or maintain a registered agent as provided in this Act, or shall deliver to the Commissioners the required statement of change of registered agent, and shall pay the costs of such action, the action for such cause shall abate. V E N U E A N D PROCESS

SEC. 54. In every action for the involuntary dissolution of a corporation hereinbefore provided, summons shall issue and be served as in other civil actions. I n case a return is made thereon that no officer or agent of such corporation can be found within the territorial limits of the District of Columbia, then the Commissioners shall cause publication to be made in some newspaper of general circulation published in the District of Columbia, containing a notice of the pendency of such action, the title of the court, the names of the parties thereto, and the date on or after which default may be entered. The Commissioners shall cause a copy of such notice to be mailed by registered or certified mail to the corporation at its registered office within ten days after the first publication thereof. The certificate of the Commissioners of the mailing of such notice shall be prima facie evidence thereof. Such notice shall be published at least once each week for two successive weeks, and the first publication thereof may begin at any time after the summons has been returned. Unless a corporation shall have been served with summons, no default shall. be taken against it earlier than thirty days after the first publication of such notice. The cost of publication of such notice shall be paid by the Commissioners, unless the decree is against the corporation and such cost is collected from it.

�