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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 176P LIMITED SOCIETIES
  • Section 10 Certificate of commissioner; time limitation; certificate of incorporation; cessation of business operations

Section 10. If a society fails to secure its certificate of incorporation and to begin business within one year after the date of receiving the certificate of the commissioner, as provided in section 7, its agreement of association and all proceedings thereunder shall become null and void. If a domestic corporation subject to this chapter ceases to do business for the period of one year, its charter or certificate of incorporation shall become null and void.