Foreign corporations, authority to transact business; transacting business defined

1. Law
2. Mississippi Code
3. Corporations, Associations, and Partnerships
4. Nonprofit, Nonshare Corporations and Religious Societies
5. Mississippi Nonprofit Corporation Act
6. Foreign corporations, authority to transact business; transacting business defined

1. A foreign corporation may not transact business in this state until it obtains a certificate of authority from the Secretary of State.
2. The following activities, among others, do not constitute transacting business within the meaning of subsection (1) of this section:
   1. Maintaining, defending or settling any proceeding;
   2. Holding meetings of the board of directors or members or carrying on other activities concerning internal corporate affairs;
   3. Maintaining bank accounts;
   4. Maintaining offices or agencies for the transfer, exchange and registration of memberships or securities or maintaining trustees or depositaries with respect to those securities;
   5. Selling through independent contractors;
   6. Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts;
   7. Creating or acquiring indebtedness, mortgages and security interests in real or personal property;
   8. Securing or collecting debts or enforcing mortgages and security interests in property securing the debts;
   9. Owning, without more, real or personal property;
   10. Conducting an isolated transaction that is completed within thirty (30) days and that is not one in the course of repeated transactions of a like nature;
   11. Transacting business in interstate commerce.
3. The list of activities in subsection (2) of this section is not exhaustive.

Download our app to see the most-to-date content.