Section 4-27-1501 - Authority to transact business required(a) A foreign corporation may not transact business in this state until it obtains a certificate of authority from the Secretary of State.(b) The following activities, among others, do not constitute transacting business within the meaning of subsection (a) of this section: (1) Maintaining, defending, or settling any proceeding;(2) Holding meetings of the board of directors or shareholders, 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 the corporation's own 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.(c) The list of activities in subsection (b) of this section is not exhaustive.Acts 1987, No. 958, § 64-1501; 1987 (1st Ex. Sess.), No. 11, § 14.