LD 2487, Page 21 - 119th Legislature, SECOND REGULAR Session

annual report fee or the penalty, the Secretary of State,

notwithstanding Title 4, chapter 25 5 and Title 5, chapter 375,

shall revoke a foreign limited partnership's authority to do

business in this State and suspend a 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. 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this State has been revoked under this subsection that wishes to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 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.

Sec. 54. 31 MRSA §719, sub-§2, ¶A, as enacted by PL 1993, c. 718, Pt.
A, §1, is amended to read:

A. Notwithstanding Title 4, chapter 25 5 and Title 5,
chapter 375, the authority of a foreign limited liability
company to do business in this State may be revoked by the
Secretary of State as provided in paragraphs C and D when:

(1) The foreign limited liability company fails to
deliver its annual report for filing within the time
specified by this chapter or fails to pay any fees or
penalties as prescribed by this chapter when they
become due and payable;

(2) The foreign limited liability company fails to
appoint and maintain a registered agent in this State
as required by section 714;

(3) The foreign limited liability company fails, after
change of its registered office or registered agent, to
file with the Secretary of State a statement of the
change required by section 714;

(4) The foreign limited liability company has failed
to file with the Secretary of State an amended
application for authority required by section 715; or

(5) A misrepresentation of a material fact is made in
any application, report, affidavit or other document
required by this chapter.

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