Article V. Involuntary Dissolution
9.15.470 Involuntary Judicial Dissolution.
(a) A corporation may be dissolved involuntarily by a decree of the Tribal Court in an action instituted by the Presenting Officer in the name of the community, if the Court finds that any of the following conditions exist:
(1) The franchise of the corporation was acquired through fraud;
(2) The corporation has continued to exceed or abuse the authority conferred upon it by this chapter;
(3) The corporation has failed for ninety (90) days after change to notify the OJA Director of any change of registered agent;
(4) The corporation’s period of duration stated in the articles of incorporation expires; or
(5) The corporation has been inactive for a period of at least one year and there are no plans to reactivate the corporation in the future.
(b) The Presenting Officer shall notify the corporation of the intent to sue and the reason of suit by certified or registered mail to such corporation through its registered agent at least thirty (30) days before any action for the involuntary dissolution of a corporation shall be filed. If, before action is filed, the corporation submits satisfactory evidence that the corporation did not commit any of the allegations, the Presenting Officer shall not file an action against such a corporation for such cause. [Res. 2011-32; 2008 Code § 188.8.131.52]