1. Failure to file annual report. A limited liability company required to deliver an annual report for filing as provided by section 757 that fails to deliver its properly completed annual report to the Secretary of State shall pay, in addition to the regular annual report fee, the sum of $25, if the report is received by the Secretary of State prior to revocation or suspension of the limited liability company. Upon a limited liability company's failure to file the annual report and to pay the 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 liability company's authority to do business in this State and suspend a domestic limited liability company from doing business. The Secretary of State shall use the procedures set forth in section 719, subsection 2, relative to revoking the right of foreign limited liability companies to do business in this State, for suspending domestic limited liability companies. A foreign limited liability company whose authority to do business in this State has been revoked under this subsection that wishes to do business again in this State must be authorized as provided in section 712. A domestic limited liability company 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 liability company 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. 56. 31 MRSA §859, sub-§1, ķA, as enacted by PL 1995, c. 633, Pt. B, §1, is amended to read:

A. Notwithstanding Title 4, chapter 25 5 and Title 5, chapter 375, the status of a foreign partnership as a limited liability partnership with respect to doing 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 partnership 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 partnership fails to appoint and maintain a registered agent in this State as required by section 807;