What condition can lead to the suspension of a corporate charter?

The suspension of a corporate charter can indeed occur due to failure to file required reports or pay franchise taxes. This is a critical requirement for corporations to maintain their legal standing and operational legitimacy. Regular filings and tax payments are part of the ongoing compliance obligations set forth in the Revised Corporation Code. When a corporation does not adhere to these responsibilities, it risks penalties, including the potential suspension of its charter. This action serves as a mechanism to ensure corporate accountability and adherence to legal obligations critical for the functioning of the corporate entity.

The other choices, while they may highlight issues that can affect a corporation, do not directly lead to the automatic suspension of a corporate charter in the same way that the failure to file reports and pay taxes does. Lack of sufficient shareholders pertains to governance but doesn’t trigger a charter suspension, and corporate governance issues may lead to internal problems but do not necessarily affect charter status directly. An economic downturn may impact a corporation's performance but is not a regulatory condition for suspension.