Maine Revised Statutes Title 31 Sec. 1400 – Reinstatement following administrative dissolution or suspension of domestic limited partnership
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1. Reinstatement following administrative dissolution. A domestic limited partnership administratively dissolved under section 1399 may apply to the Secretary of State for reinstatement within 6 years after the effective date of dissolution.
A. The application for reinstatement must:
(1) State the name of the domestic limited partnership and the effective date of its administrative dissolution;
(2) State that the ground or grounds for dissolution either did not exist or have been eliminated; and
(3) State that the domestic limited partnership’s name satisfies the requirements of section 1308. [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. If the Secretary of State determines that the application contains the information required under this subsection and is accompanied by the reinstatement fee set forth in section 1460, subsection 6, and that the information is correct, the Secretary of State shall cancel the administrative dissolution and prepare a notice of reinstatement that recites that determination and the effective date of reinstatement. The Secretary of State shall use the procedures set forth in section 1399, subsection 10 to deliver the notice to the domestic limited partnership. [PL 2007, c. 323, Pt. F, §25 (AMD); PL 2007, c. 323, Pt. G, §4 (AFF).]
C. When the reinstatement is effective under this subsection, it relates back to and takes effect as of the effective date of the administrative dissolution, and the domestic limited partnership resumes business as if the administrative dissolution had not occurred. [PL 2005, c. 543, Pt. C, §2 (NEW).]
[PL 2007, c. 323, Pt. F, §25 (AMD); PL 2007, c. 323, Pt. G, §4 (AFF).]
Terms Used In Maine Revised Statutes Title 31 Sec. 1400
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Maine Revised Statutes Title 31 Sec. 1302
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands or any territory or insular possession subject to the jurisdiction of the United States. See Maine Revised Statutes Title 31 Sec. 1302
2. Reinstatement after suspension. A domestic limited partnership that was suspended before July 1, 2004 may apply to the Secretary of State for reinstatement.
A. The reinstatement may be granted if:
(1) The Secretary of State determines that the application contains the information required under subsection 1;
(2) The application for reinstatement is accompanied by the reinstatement fee set forth in section 1460, subsection 6; and
(3) The application for reinstatement is received by the Secretary of State by June 30, 2010. [PL 2005, c. 543, Pt. C, §2 (NEW).]
B. A domestic limited partnership that fails to meet the requirements of this subsection is administratively dissolved and may not reinstate. [PL 2005, c. 543, Pt. C, §2 (NEW).]
C. The name of a domestic limited partnership that is suspended remains in the Secretary of State’s record of limited partnership names and is protected for a period of 3 years following suspension. [PL 2005, c. 543, Pt. C, §2 (NEW).]
[PL 2005, c. 543, Pt. C, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §C2 (NEW). PL 2007, c. 323, Pt. F, §25 (AMD). PL 2007, c. 323, Pt. G, §4 (AFF).