Generally, the Secretary of State May Commence an Administrative Proceeding

question 54

Multiple Choice

Generally, the secretary of state may commence an administrative proceeding to dissolve a corporation when the corporation:

• A) does not deliver its annual report within ten days after it is due.
• B) does not pay franchise taxes or penalties immediately when due.
• C) is without a registered agent in the state for more than 60 days.
• D) All of these.

---

Definitions:

Market

A system or an arena where parties engage in exchange of goods, services, or information.

Positive Externality

A benefit that affects a party who did not choose to incur that benefit, often associated with public goods and services.

Historic Buildings

Structures that hold historical significance due to their architecture, association with important events, or cultural impact.

External Costs

Costs of economic activities that are not reflected in the market price, affecting parties who did not choose to incur that cost.