Sec. 26. 31 MRSA §408, as amended by PL 1999, c. 638, §§10-12, is repealed.

Sec. 27. 31 MRSA §§408-A to 408-E are enacted to read:

§408-A.__Grounds for administrative dissolution of domestic

limited partnership

Notwithstanding Title 4, chapter 5 and Title 5, chapter 375, the Secretary of State may commence a proceeding under section 408-B to administratively dissolve a domestic limited partnership if:

1.__Nonpayment of fees or penalties.__The domestic limited partnership does not pay when they are due any fees or penalties imposed by this Act or other law;

2.__Failure to file annual report.__The domestic limited partnership does not deliver its annual report to the Secretary of State as required by section 529;

3.__Failure to pay late filing penalty.__The domestic limited partnership does not pay the annual report late filing penalty as required by section 530;

4.__Failure to maintain registered agent or registered office.__ The domestic limited partnership fails to appoint or maintain a registered agent or registered office in this State as required by section 407;

5.__Failure to notify of change of registered agent or registered office.__The domestic limited partnership does not notify the Secretary of State that its registered agent or registered office has been changed or that its registered agent has resigned as required by section 407; or

6.__Filing of false information.__A general partner, limited partner or agent of the domestic limited partnership signed a document with the knowledge that the document was false in a material respect and with the intent that the document be delivered to the Secretary of State for filing.

§408-B.__Procedure for and effect of administrative dissolution

of domestic limited partnership