LD 1539
pg. 77
Page 76 of 104 PUBLIC Law Chapter 344 Page 78 of 104
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LR 1942
Item 1

 
Sec. C-11. 31 MRSA §498, sub-§2, ¶B, as corrected by RR 1993, c. 1, §80,
is amended to read:

 
B. The authority of a foreign limited partnership may be
revoked only after:

 
(1) The Secretary of State has mailed to the
partnership's last registered office in this State and
to its last registered or principal office in its
jurisdiction of organization as filed with the
Secretary of State at least 30 days' 60 days' notice of
pending revocation of its authority to do business in
this State. The notice must specify the default; and

 
(2) The partnership has not, prior to revocation,
removed the ground of default specified in the notice.

 
Sec. C-12. 31 MRSA §498, sub-§2, ¶C, as amended by PL 1993, c. 316,
§63, is further amended to read:

 
C. After the expiration of the 30-day 60-day notice period,
if a foreign limited partnership has not corrected the
specified default or convinced the Secretary of State, by
affidavit or otherwise, that there was no misrepresentation
relative to paragraph A, subparagraph (5), the Secretary of
State shall issue and file a certificate revoking the
foreign limited partnership's authority to do business in
this State and shall mail copies of the certificate of
revocation to the foreign limited partnership's last
registered office in this State and to its last registered
or principal office in its jurisdiction of organization as
filed with the Secretary of State.

 
Sec. C-13. 31 MRSA §524, sub-§1, ¶B, as amended by PL 1997, c. 376,
§41, is further amended to read:

 
B. The provisions of section 403 403-A, subsection 1,
paragraph A requiring that the name names of all limited
partnerships contain the words "Limited Partnership," the
abbreviation "L.P." or the designation "LP" do not apply to
a limited partnership formed before January 1, 1992 or a
foreign limited partnership having obtained the authority to
do business in this State before January 1, 1992 until such
time as the limited partnership has filed an amendment to
its certificate of limited partnership or application for
authority to do business as a foreign limited partnership
pursuant to subsection 2;


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