31A-1-108. Corporations in the process of organizing.
Corporations in the process of organizing on July 1, 1986, may continue to organize under
former Title 31. Any corporation so organizing that does not obtain a certificate of authority by
July 1, 1987, shall make appropriate refunds and reimbursements to subscribers, incorporators,
and creditors in accordance with a plan approved by the commissioner. This plan shall specify
the date that the legal existence of the corporation terminates.
Enacted by Chapter 242, 1985 General Session
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