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limited partnership names and is protected for a period of 3 | years following suspension. |
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| §1401.__Appeal from denial of reinstatement of domestic limited |
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| | 1.__Denial of reinstatement. If the Secretary of State denies | a domestic limited partnership's application for reinstatement | following administrative dissolution, the Secretary of State | shall mail a written notice that explains the reason or reasons | for denial to the limited partnership at its last registered | office address. |
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| | 2.__Appeal. A domestic limited partnership may appeal a denial | of reinstatement under subsection 1 to the Superior Court of the | county where the limited partnership's principal office is | located or, if there is no principal office in this State, in | Kennebec County within 30 days after the date of the notice of | denial. The limited partnership appeals by petitioning the court | to set aside the dissolution and attaching to the petition copies | of the Secretary of State's notice of administrative dissolution, | the limited partnership's application for reinstatement and the | Secretary of State's notice of denial. |
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| | 3.__Court action. The court may summarily order the Secretary | of State to reinstate an administratively dissolved domestic | limited partnership or may take other action the court considers | appropriate. |
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| | 4.__Final decision. The court's final decision in an appeal | under this section may be appealed as in other civil proceedings. |
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| §1402.__Disposition of assets; when contributions required |
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| | 1.__Assets to satisfy creditors.__In winding up a limited | partnership's activities, the assets of the limited partnership, | including the contributions required by this section, must be | applied to satisfy the limited partnership's obligations to | creditors, including, to the extent permitted by law, partners | that are creditors. |
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| | 2.__Surplus paid in cash distribution.__Any surplus remaining | after the limited partnership complies with subsection 1 must be | paid in cash as a distribution. |
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| | 3.__Insufficient assets to satisfy all obligations.__If a | limited partnership's assets are insufficient to satisfy all of | its obligations under subsection 1, with respect to each | unsatisfied | obligation incurred when the limited partnership was |
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