The Secretary of State may commence a proceeding under § 4-27-1421 to administratively dissolve a corporation if:
(1) the corporation does not pay within sixty (60) days after they are due any franchise taxes or penalties imposed by this chapter or other law;
(2) the corporation does not deliver its annual franchise tax report to the Secretary of State within sixty (60) days after it is due;
(3) the corporation is without a registered agent in this state for sixty (60) days or more;
(4) the corporation does not notify the Secretary of State within sixty (60) days that its registered agent has been changed or has resigned; or
(5) the corporation's period of duration stated in its articles of incorporation expires.