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foreign limited liability company's authority to transact business | in this State. A foreign limited liability company whose authority | to do business in this State has been revoked under this subsection | that wishes to do business again in this State must be authorized | as provided in section 712. | that has been suspendedthis | subsection may be reinstated by filing the current annual report | together with the current annual filing fee and by paying the | reinstatement fee of $125 for each year the limited liability | company failed to file an annual report. The maximum reinstatement | fee may not exceed $500, regardless of the number of delinquent | reports or the period of delinquency | | requirements set forth in section 608-C to reinstate. |
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| | | 2. Nonconformity. If the Secretary of State finds that an | | annual report delivered for filing does not conform with the | | requirements of section 757, the report must be returned for | | correction. |
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| | | 3. Suspension. A limited liability company while suspended | may not engage in business. |
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| | | 4. Excusable neglect. If the annual report of a domestic or | | foreign limited liability company is not delivered for filing | | within the time specified in section 757, the limited liability | | company is excused from the liability provided in this section | and from any other penalty for failure to file timely the report, | | if it establishes to the satisfaction of the Secretary of State, | | that failure to file was the result of excusable neglect and it | furnishes the Secretary of State with | 30 days after learning | | failed to receive the original report. |
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| | | Sec. 64. 31 MRSA §808, as enacted by PL 1995, c. 633, Pt. B, §1, is | | repealed. |
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| | | Sec. 65. 31 MRSA §§808-A to 808-E are enacted to read: |
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| | | §808-A.__Grounds for revocation of registered limited liability |
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| | | Notwithstanding Title 4, chapter 5 and Title 5, chapter 375, | | the Secretary of State may commence a proceeding under section | | 808-B to revoke the status of a partnership as a registered | | limited liability partnership if: |
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| | | 1.__Nonpayment of fees, penalties.__The registered limited | | liability partnership does not pay when they are due any fees or | | penalties imposed by this chapter or other law; |
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