Section 1-31-102 - Actions against corporations(a) A like action may be brought against a corporation: (i) When it has violated the law governing its creation or renewal; (ii) When it has forfeited its privileges and franchises by nonuse; (iii) When it has committed or omitted an act which amounts to a surrender of its corporate rights, privileges and franchises; (iv) When it has misused a franchise or privilege conferred upon it by law or exercised a franchise or privilege not so conferred.