CH13 - Chapter Thirteen Qualification of Foreign...

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Chapter Thirteen Qualification of Foreign Corporations
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Domestic vs. Foreign Corporations Domestic corporation Domestic corporation : : Corporation doing business in the state in which it was formed Foreign corporation Foreign corporation : : Corporation doing business in a state other than the state in which it was formed
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Transacting Business Transacting business: generally, statutory list of activities in which a corporation can engage in a foreign state without being required to qualify to do business therein
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Actions that Do Not Qualify as Doing Business MBCA § 15.01(b) states that the following activities do not constitute transacting business: 1. Maintaining, defending, or settling any proceeding; 2. Holding meetings of the board of directors or shareholders or carrying on other activities concerning internal corporate affairs; 3. Maintaining bank accounts; 4. Maintaining offices or agencies for the transfer, exchange, and registration of the corporation’s own securities or maintaining
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CH13 - Chapter Thirteen Qualification of Foreign...

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