43-1152. Powers of corporation suspended for nonpayment of tax

Except for the purpose of amending the articles of incorporation to set forth a new name, the corporate powers, rights and privileges of a domestic corporation as defined in section 10-140 shall be suspended, and the exercise of the corporate powers, rights and privileges of a foreign corporation as defined in section 10-140 in this state shall be forfeited, if any of the following conditions occurs:

1. If any tax, penalty or interest, or any portion thereof, which is due and payable either at the time the return is required to be filed, or on or before the fifteenth day of the ninth month following the close of the income year, is not paid on or before 5:00 p.m. on the last day of the twelfth month after the close of the income year.

2. If any tax, penalty or interest, or any portion thereof, other than jeopardy or fraud assessments, due and payable upon notice and demand from the department, is not paid on or before 5:00 p.m. on the last day of the eleventh month following the due date of such tax.

3. If any jeopardy or fraud assessment, or any interest or penalty thereon, is not paid within forty days from the date of such tax, penalty and interest are due and payable upon notice and demand from the department, unless the bond permitted by section 42-1111, subsection B is filed to stay the collection of the tax, interest or penalty, and such tax, interest or penalty is paid within sixty days after notice by the department on the taxpayer's petition for reassessment.