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Section: Effect of enactment of Revised Statutes upon existing offices, etc., and the incumbents thereof

Statute: 15A:13-12

a. The Attorney General may bring an action in the Superior Court in the name of the State to enjoin a foreign corporation from conducting activities in this State: (1) Without having first obtained a certificate of authority pursuant to this chapter; (2) Of a character not set forth in its application for a certificate of authority or for an amended certificate of authority; (3) After its authority to conduct activities in this State has been surrendered or revoked; (4) After it is dissolved or its authority or existence is otherwise terminated or canceled in the jurisdiction of its incorporation; (5) If it has procured its organization certificate of authority through fraudulent misrepresentation or concealment of a material fact; (6) If it has repeatedly exceeded the authority conferred upon it by law; (7) If it has repeatedly conducted its business in an unlawful manner; (8) If it has misused or failed to use its powers, privileges or franchises; (9) If it is insolvent; (10) If it is conducting its activities in violation of its certificate of incorporation or its application for certificate of authority, or, with respect to specific assets, in violation of any restrictions applicable to those assets imposed upon it; (11) If it is conducting its activities at a great loss and with great prejudice to the interests of its creditors or members; or (12) If it is conducting activities in a manner which is prejudicial to the public. b. The Superior Court may proceed in the action in a summary manner or otherwise. Upon a showing by clear and convincing evidence of any cause set forth in subsection a. of section 15A:12-11, the court may declare the corporation's certificate of authority revoked and a copy of the order of the court shall be filed in the office of the Secretary of State as evidence thereof, but the failure to file the order with the Secretary of State shall not affect the enforceability of the order. c. The provisions of this section shall not exclude any other ground provided by law for injunctive relief against a foreign corporation to restrain it from the exercise of any franchise or the conducting of any activities within this State. L.1983, c. 127, s. 15A:13-12, eff. Oct. 1, 1983.

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