Declaration of delinquency

7-90-902. Declaration of delinquency. (1) (a) If the secretary of state determines that one or more grounds exist under section 7-90-901 for declaring an entity delinquent and the entity does not correct each ground for declaring it delinquent or demonstrate to the reasonable satisfaction of the secretary of state that such ground does not exist within sixty days after the secretary of state makes such determination, the entity becomes delinquent following the expiration of such sixty days. (b) If the secretary of state determines that grounds exist under section 7-90-901 (1)(d) or (2)(f) for declaring an entity delinquent, the entity becomes delinquent immediately upon such determination and is not subject to the sixty-day period set forth in subsection (1)(a) of this section. (2) (Deleted by amendment, L. 2010, (HB 10-1403), ch. 404, p. 1998, � 20, effective August 11, 2010.) Source: L. 2005: Entire part added, p. 1212, � 20, effective October 1. L. 2009: (2) amended, (HB 09-1248), ch. 252, p. 1133, � 17, effective December 1. L. 2010: Entire section amended, (HB 10-1403), ch. 404, p. 1998, � 20, effective August 11. L. 2024: (1) amended, (HB 24-1137), ch. 332, p. 2250, � 6, effective August 7.