Current with changes from the 2024 Legislative Session
Section 7-103 - Activities not considered intrastate businessIn addition to any other activities which may not constitute doing intrastate business in this State, for the purposes of this article, the following activities of a foreign corporation do not constitute doing intrastate business in this State:
(1) Maintaining, defending, or settling an action, suit, claim, dispute, or administrative or arbitration proceeding;(2) Holding meetings of its directors or stockholders or carrying on other activities which concern its internal affairs;(3) Maintaining bank accounts;(4) Maintaining offices or agencies for the transfer, exchange, and registration of its securities;(5) Appointing and maintaining trustees or depositaries with respect to its securities;(6) Transacting business exclusively in interstate or foreign commerce; and(7) Conducting an isolated transaction not in the course of a number of similar transactions.