What is the time limit for a corporation to continue operating under its current license after losing its qualifying agent?

In Ohio, when a corporation loses its qualifying agent, it has a specific time frame to continue operations under its current license. The correct answer, ninety days, reflects the legal allowance provided to the corporation to find a new qualifying agent and maintain its licensing status during that period. This rule is essential for ensuring that businesses can continue functioning without significant interruption while they resolve the issue of their qualifying agent's loss.

In practice, this ninety-day window gives the corporation the opportunity to search for a qualified individual to assume the role of the qualifying agent, complete the necessary paperwork, and ensure they remain compliant with state regulations. It is vital for corporations to be aware of this timeframe to avoid lapsing their license, which would prevent them from legally conducting business activities.