LD 1609
pg. 136
Page 135 of 146 PUBLIC Law Chapter 543 Page 137 of 146
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LR 1469
Item 1

 
limited partnership, with the same consequences, as existed
immediately before July 1, 2007.

 
D.__Section 1373, subsection 4 does not apply.

 
E.__Section 1373, subsection 5 does not apply and a court
has the same power to expel a general partner as the court
had immediately before July 1, 2007.

 
F.__Section 1391, subsection 3 does not apply and the
connection between a person's dissociation as a general
partner and the dissolution of the limited partnership is
the same as existed immediately before July 1, 2007.

 
4.__Limited partnership that elects to be subject.__With
respect to a limited partnership that elects pursuant to
subsection 1, paragraph B to be subject to this chapter, after
the election takes effect the provisions of this chapter relating
to the liability of the limited partnership's general partners to
3rd parties apply:

 
A.__Before July 1, 2008, to:

 
(1)__A 3rd party that had not done business with the
limited partnership in the year before the election
took effect; and

 
(2)__A 3rd party that had done business with the
limited partnership in the year before the election
took effect only if the 3rd party knows or has received
a notification of the election; and

 
B.__On and after July 1, 2008, to all 3rd parties, but those
provisions remain inapplicable to any obligation incurred
while those provisions were inapplicable under paragraph A,
subparagraph (2).

 
§1454.__Savings clause

 
This chapter does not affect an action commenced, proceeding
brought or right accrued before this chapter takes effect.

 
§1455.__Duty of Secretary of State

 
The Secretary of State's duty to file documents under this
chapter is ministerial. The filing or refusal to file a document
does not:


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