LD 1810
pg. 53
Page 52 of 55 PUBLIC Law Chapter 630 Page 54 of 55
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LR 2559
Item 1
 
liability partnership or a registered limited liability
partnership. The Secretary of State shall use the procedures set
forth in section 859, subsection 1 relative 808-B to revoke the
status of a registered limited liability partnership and the
procedures set forth in section 859-B to revoking revoke the
status of a partnership as a foreign limited liability
partnership for revoking the status of a partnership as a
registered limited liability partnership in this State. A
foreign limited liability partnership whose limited liability
partnership status has been revoked under this subsection section
859-B that wishes to do business again as a limited liability
partnership in this State must follow the procedures set forth in
section 808, subsection 3 relative to reinstatement of registered
limited liability partnerships 859-D to reinstate. A partnership
whose status as a registered limited liability partnership has
been revoked under this subsection may be reinstated by filing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 liability 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 808-B must follow the requirements set forth in section
808-C to reinstate.

 
2. Nonconformity. If the Secretary of State finds that an
annual report delivered for filing does not conform with the
requirements of section 873, the report must be returned for
correction.

 
3. Revocation. During any period in which a partnership's
status as a limited liability partnership has been revoked, it
must be treated as a general partnership without that limited
liability partnership status.

 
4. Excusable neglect. If the annual report of a registered
or foreign limited liability partnership is not delivered for
filing within the time specified in section 873, the limited
liability 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.

 
5. Inadvertent errors. The status of a partnership as a
limited liability partnership and the liability of a partner of
that limited liability partnership is not adversely affected if
the name or address of a partner listed in an annual report is
erroneously stated or omitted, as long as that annual report was
filed in good faith.

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