Section 607.1505 - Effect of a certificate of authority(1) Unless the department determines that an application for a certificate of authority of a foreign corporation to transact business in this state does not comply with the filing requirements of this chapter, the department shall, upon payment of all filing fees, authorize the foreign corporation to transact business in this state and file the application for certificate of authority.(2) The filing by the department of an application for a certificate of authority means that the foreign corporation that filed the application to transact business in this state has obtained a certificate of authority to transact business in this state and is authorized to transact business in this state, subject, however, to the right of the department to suspend or revoke the certificate of authority as provided in this chapter.s. 140, ch. 89-154; s.202, ch. 2019-90; s.58, ch. 2020-32.Amended by 2020 Fla. Laws, ch. 32, s 58, eff. 6/18/2020.Amended by 2019 Fla. Laws, ch. 90, s 202, eff. 1/1/2020.