LD 1609
pg. 109
Page 108 of 146 PUBLIC Law Chapter 543 Page 110 of 146
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LR 1469
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5.__Liability of limited partners.__A limited partner of a
domestic limited partnership is not liable as a general partner
of the limited partnership solely by reason of the limited
partnership's having been administratively dissolved under this
section.

 
6.__Validity of contracts; right to be sued; right to defend
suit. The administrative dissolution of a domestic limited
partnership under this section does not impair:

 
A.__The validity of any contract or act of the domestic
limited partnership;

 
B.__The right of any other party to the contract to maintain
any action, suit or proceeding on the contract; or

 
C.__The right of the domestic limited partnership to defend
any action, suit or proceeding in any court of this State.

 
7.__Authority of registered agent. The administrative
dissolution of a domestic limited partnership under this section
does not terminate the authority of its registered agent.

 
8.__Protecting domestic limited partnership name after
administrative dissolution. The name of a domestic limited
partnership remains in the Secretary of State's record of limited
partnership names and is protected for a period of 3 years
following administrative dissolution under this section.

 
9.__Notice to Superintendent of Financial Institutions in case
of financial institution or credit union.__In the case of a
financial institution authorized to do business in this State or
a credit union authorized to do business in this State, as
defined in Title 9-B, the Secretary of State shall notify the
Superintendent of Financial Institutions within a reasonable time
prior to administratively dissolving the financial institution or
credit union under this section.

 
§1400.__Reinstatement following administrative dissolution or

 
suspension of domestic limited partnership

 
1.__Reinstatement following administrative dissolution. A
domestic limited partnership administratively dissolved under
section 1399 may apply to the Secretary of State for
reinstatement within 6 years after the effective date of
dissolution.

 
A.__The application for reinstatement must:


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