Page:United States Statutes at Large Volume 76.djvu/343

 76 STAT. ]

PUBLIC LAW 87-569-AUG. 6, 1962 WITHDRAWAL OF FOREIGN CORPORATION

SEC. 77. (a) A foreign corporation authorized to conduct affairs in the District may withdraw from the District upon procuring from the Commissioners a certificate of withdrawal. I n order to procure such certificate of withdrawal, such for e i ^ corporation shall deliver to the Commissioners an application for withdrawal. (b) The application for withdrawal shall state— (1) the name of the corporation and the state or country under the laws of which it is incorporated; (2) that the corporation is not conducting affairs in the District; (3) that the corporation surrenders its authority to conduct affairs in the District; (4) that the corporation revokes the authority of its registered i agent in the District to accept service of process and consents that service of process in any action, suit, or proceeding based upon any: cause of action arising in the District during the time the corporation was authorized to conduct affairs in the District may tnereafter be made on such corporation by service thereof on the Commissioners; (5) a post office address to which the Commissioners may mail a copy or any process against the corporation that may be served on them. (c) The application for withdrawal shall be executed by the corporation by its president or a vice president, and the corporate seal shall be thereto affixed, attested by its secretary or an assistant secretary, or, if the corporation is in the hands of a receiver or trustee, shall be executed on behalf of the corporation by such receiver or trustee and verified by him. FILING OF APPLICATION

FOR

WITHDRAWAL

SEC. 78. (a) Duplicate originals of such application for withdrawal shall be delivered to the Commissioners. If the Commissioners find that such application conforms to law, they shall, when all fees have been paid as ni this Act prescribed— (1) endorse on each of such duplicate originals the word "Filed'', and the month, day, and year of the filing thereof; (2) file one of such duplicate originals in their office; (3) issue a certificate of withdrawal to which they shall affix the other duplicate original; (4) deliver the certificate of withdrawal, together with the duplicate original of the application for withdrawal affixed, thereto, to the corporation or its representative. (b) Upon the issuance of such certificate of withdrawal, the authority of the corporation to conduct affairs in the District shall cease. REVOCATION

OF CERTIFICATE OF AUTHORITY

SEC. 79. (a) The certificate of authority of a foreign corporation to conduct affairs in the District may be revoked by the Commissioners when they find that— (1) the certificate of authority of the corporation was procured through fraud practiced upon the District; or (2) the corporation has continued to exceed or has abused the authority conferred upon it by this Act; or (3) the corporation has failed for a period of ninety days to pay any fees, charges, or penalties prescribed by this Act* or (4) the corporation has failed for a period of ninety days to appoint and maintain a registered agent in the District; or

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