Authority to investigate; penalty

§314.1. Authority to investigate; penalty A. The secretary of state may investigate any foreign corporation transacting business in this state which does not have a certificate of authority to transact business in this state. B. The secretary of state may impose a penalty of not more than one thousand dollars per violation against such foreign corporations transacting business in this state without a valid certificate of authority. C. The secretary of state shall adopt a schedule of penalties to be imposed under the provisions of this Section in accordance with the provisions of the Administrative Procedure Act. D. If a penalty imposed under the provisions of this Section is not timely paid by a foreign corporation, the attorney general shall institute proceedings against the foreign corporation to collect such penalty. Acts 1988, No. 513, §1.