The department director may commence a proceeding under section 414-402 to administratively dissolve a corporation if the corporation fails to:

1. (1) Pay any fees prescribed by law;
2. (2) File its annual report for a period of two years;
3. (3) Appoint and maintain an agent for service of process as required; or
4. (4) File a statement of a change in the name of the agent as required under chapter 425R.

[L 2000, c 244, pt of §1; am L 2002, c 130, §28; am L 2003, c 124, §8; am L 2009, c 55, §10]