China Finance Inc., a company that provides financing to small- and medium-size businesses in China, said this week that it has been reinstated as a corporation in good standing in Utah.
The reinstatement was ordered March 5 after an administrative hearing at the Utah Division of Corporations and Commercial Code.
In 2005, the Division of Corporations and Commercial Code dissolved China Finance's corporation status after the company failed to renew its 2000 incorporation documents a move that the company, which has offices in New York and Beijing, said was an "unfortunate administrative lapse."
Kathy Berg, the state division's director, on Monday confirmed the company's reinstatement.
When the company was dissolved, its shareholders were vulnerable to debt and litigation. Now that the company's dissolution is null and void, shareholders will have limited liability protections under Utah corporate law. The company also continues its status as a corporation for tax purposes.