§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.