§498-B.__Procedure for and effect of revocation

1.__Notice of determination.__If the Secretary of State determines that one or more grounds exist under section 498-A for the revocation of authority, the Secretary of State shall issue a written notice of that determination to the limited partnership's last registered office in this State and to its last registered or principal office in its jurisdiction of organization.

2.__Revocation.__The foreign limited partnership's authority is revoked if within 60 days after the notice under subsection 1 was issued the Secretary of State determines that the limited partnership has failed to correct the ground or grounds for revocation.__The Secretary of State shall send notice to the limited partnership at its last registered office address in this State and to its last registered or principal office address in its jurisdiction of organization that recites the ground or grounds for revocation and the effective date of the revocation.

3.__Authority to transact business ceases.__The authority of a foreign limited partnership to transact business in this State ceases on the date of revocation of its authority.

4.__Secretary of State appointed as agent for service of process.__The Secretary of State's revocation of a foreign limited partnership's authority appoints the Secretary of State as the foreign limited partnership's agent for service of process in any proceeding based on a cause of action that arose during the time the foreign limited partnership was authorized to transact business in this State. Service of process on the Secretary of State under this subsection is service on the foreign limited partnership. Upon receipt of process, the Secretary of State shall mail a copy of the process to the foreign limited partnership at its principal office shown in its most recent annual report or in any subsequent communication received from the limited partnership stating the current mailing address of its principal office or, if no other address is on file, in its application for authority.

5.__Registered agent; not terminated.__Revocation of a foreign limited partnership's authority to transact business in this State does not terminate the authority of the registered agent of the limited partnership.

6.__Authorization after revocation.__A foreign limited partnership whose authority to transact business in this State