| 1. Failure to file annual report; penalty. A domestic or |
foreign limited liability company that is 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 late filing penalty described in section |
751, subsection 26, as long as the report is received by the |
Secretary of State prior to revocation or suspension of the |
limited liability company administrative dissolution. 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 5 and Title 5, chapter |
375, shall revoke a foreign limited liability company's authority |
to do business in this State and suspend administratively |
dissolve 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 |
608-B to administratively dissolve a domestic limited liability |
company and the procedures set forth in section 719-B to revoke a |