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17-6812. Revocation or forfeiture of articles of incorporation; jurisdiction and powers of district court; proceedings by attorney general. (a) Upon motion by the attorney general, the district court shall have jurisdiction to revoke or forfeit the articles of incorporation of any corporation for abuse, misuse or nonuse of its corporate powers, privileges or franchises. The attorney general shall proceed for this purpose by petition in the district court of the county where the registered office of the corporation is located.

(b) The district court shall have power, by appointment of trustees, receivers or otherwise, to administer and wind up the affairs of any corporation whose articles of incorporation shall be revoked or forfeited by any court under this section, and to make such orders and decrees with respect thereto as shall be just and equitable respecting its affairs and assets and the rights of its stockholders and creditors.

(c) No proceeding shall be instituted under this section for nonuse of any corporation's powers, privileges or franchises during the first two years after its incorporation.

History: L. 1972, ch. 52, § 102; L. 2016, ch. 110, § 88; L. 2023, ch. 66, § 39; July 1.

Source or Prior Law:

17-4003, 17-4004; 8 Del. C. §§ 283, 284.

Cross References to Related Sections:

Dissolution, see 17-6803 through 17-6806.

Continuation of corporate existence after dissolution, see 17-6807.

Receivers for dissolved corporation, see 17-6808 through 17-6810.

Effect of dissolution on pending action, see 17-6811.

Filing of judgment or decree with secretary of state, see 17-6813.

Receivers, see chapter 17, article 69.

Forfeiture of corporation's articles of incorporation or authority to do business in Kansas for failure to pay annual report fee, see 17-7510.

Quo warranto actions, see chapter 60, article 12.

Law Review and Bar Journal References:

"Close Corporations and the Kansas General Corporation Code of 1972," Edwin W. Hecker, Jr., 22 K.L.R. 489, 529 (1974).

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