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SammyTheBull

07/21/09 2:22 PM

#76677 RE: Risk vs Reward #76676

I'm not sure, just did a quick search after the previous post made me laugh.

Administratively dissolved companies can be reinstated by paying fees and penalties or whatever else the Secretary Of State demands. The problem is that once a company is dissolved, it no longer exists according to the state. Things such as contracts and lawsuits have no standing. It would be stupid to enter into business contracts with such as company. That's why most business owners check for a certificate of good standing with the SOS before doing so.