Section 47-1A-1501 - Authority to transact business requiredA foreign corporation may not transact business in this state until it obtains a certificate of authority from the Office of the Secretary of State. The following activities, among others, do not constitute transacting business within the meaning 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 depositories 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 days and that is not one in the course of repeated transactions of a like nature; and(11) Transacting business in interstate commerce.