Charter revocation for failure to pay tax — Procedure

Ark. Code Ann. § 26-54-111 — under Arkansas Corporate Franchise Tax Act of 1979.

Ark. Code Ann. § 26-54-111

(a) On or before January 31 of each year, the Secretary of State shall proclaim as revoked the corporate charters or authorities of all corporations, both domestic and foreign, that according to the Secretary of State's records are delinquent in the payment of the annual franchise tax for a prior year.

(b) (1) A copy of the proclamation under subsection (a) of this section, or applicable portion thereof, shall be furnished to each other official or agency of the state that is authorized to issue corporation charters or authorities.(2) Upon their receipt of the proclamation, the several officials shall at once correct their respective records in accordance with the proclamation.

(1) A copy of the proclamation under subsection (a) of this section, or applicable portion thereof, shall be furnished to each other official or agency of the state that is authorized to issue corporation charters or authorities.

(2) Upon their receipt of the proclamation, the several officials shall at once correct their respective records in accordance with the proclamation.