15-2-161. GROUNDS FOR ADMINISTRATIVE DISSOLUTION.

The Director of Corporations may proceed under Section 162 to administratively dissolve a corporation if:

1. The corporation’s period of duration stated in its articles of incorporation expires:
2. Responses to the interrogatories under §15-1-107 of this Title show that the Corporation has been inactive for a period of at least one year, and there are no plans to reactive the corporation in the future; or
3. Interrogatories under Section15-1-107 of this Title have not been answered by any of the persons to whom they were directed for a period of 120 days after becoming due; provided, however, that 30 days before commencing a proceeding under this subsection, the Director of Corporation shall notify each person failing to answer such interrogatories of its intent to commence such a proceeding.