ARTICLE 90. A foreign corporation may maintain offices or agencies and carry on business in the Republic, provided it files in the Mercantile Registry the following documents for recording:

1. Deed of protocolization of its Articles of Incorporation;

2. Copy of its last balance sheet accompanied by a declaration of the amount of its capital engaged or to be engaged in business in the Republic;

3. A certificate setting forth that it is incorporated and organized under the laws of the country of its domicile authenticated by a Consular Representative of the Republic in said country, or if there be none, then by that of a friendly nation.

ARTICLE 91. A foreign corporation maintaining an office or carrying on business in the Republic of Panama which has not complied with the requirements of this law may not sue in any court of the Republic, but may be sued therein. Any such corporation shall furthermore be liable to a fine of up to FIVE THOUSAND BALBOAS (B/.5,000.00) to be imposed by the Secretary of Finance and the Treasury.

ARTICLE 92. A foreign corporation carrying on business in the Republic which has recorded its articles of incorporation in the Mercantile Registry according to this law, shall be required to record in such Registry all amendments of such articles of incorporation and the instruments of consolidation or dissolution affecting it.