LD 1810
pg. 31
Page 30 of 55 PUBLIC Law Chapter 630 Page 32 of 55
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LR 2559
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domestic limited partnership from doing business. The Secretary
of State shall use the procedures set forth in section 498,
subsection 2, relative to revoking the right of foreign limited
partnerships to do business in this State, for suspending
domestic limited partnerships 408-B to administratively dissolve
a domestic limited partnership and the procedure set forth in
section 498-B to revoke a foreign limited partnership's authority
to transact business in this State. A foreign limited
partnership whose authority to do business in this State has been
revoked under this subsection that wishes to do business again in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 492. A
domestic limited partnership that has been suspended
administratively dissolved under this 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 partnership 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 section 408-B must follow the requirements
set forth in section 408-C to reinstate.

 
2. Nonconformity. If the Secretary of State finds that any
annual report of a domestic or foreign limited partnership
delivered for filing does not conform with the requirements of
section 529, the report must be returned for correction.

 
3. Suspension. A limited partnership while suspended may not
engage in business.

 
4. Excusable neglect. If the annual report of a domestic or
foreign limited partnership is not delivered for filing within
the time specified in section 529, the limited partnership 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 a copy of the report within
30 days after learning it learns that the Secretary of State
failed to receive the original report.

 
Sec. 51. 31 MRSA §608, as amended by PL 1999, c. 638, §§22 to 25,
is repealed.

 
Sec. 52. 31 MRSA §§608-A to 608-E are enacted to read:

 
§608-A.__Grounds for administrative dissolution of domestic

 
limited liability company

 
Notwithstanding Title 4, chapter 5 and Title 5, chapter 375,
the Secretary of State may commence a proceeding under section

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