Section 1403 - Late reinstatement of domestic limited partnership after administrative dissolution1.Application to reinstate domestic limited partnership. A domestic limited partnership that has been administratively dissolved for more than 6 years may apply to the Secretary of State for reinstatement. The application must: A. Provide the name of the domestic limited partnership and the effective date of its administrative dissolution; [2015, c. 254, §4(NEW).]B. Provide a statement together with supporting documentation that the general partner signing the application is duly authorized to act for the domestic limited partnership; [2015, c. 254, §4(NEW).]C. Establish that the grounds for dissolution either did not exist or have been eliminated; [2015, c. 254, §4(NEW).]D. Demonstrate that the domestic limited partnership's name satisfies the requirements of section 1308 or that the domestic limited partnership is filing an amendment to change the name to satisfy the requirements of section 1308; [2015, c. 254, §4(NEW).]E. Attest that no lawsuits are pending against the domestic limited partnership; and [2015, c. 254, §4(NEW).]F. Explain the reason or reasons that reinstatement is being requested. [2015, c. 254, §4(NEW).] [2015, c. 254, §4(NEW).]
2.Determination of need to reinstate domestic limited partnership. If the Secretary of State determines that the application satisfies the provisions of subsection 1 and is accompanied by the reinstatement fee set forth in section 1460, subsection 6, 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 may deny reinstatement if there are material misstatements provided in the application. The Secretary of State shall use the procedures set forth in section 1399, subsection 10 to deliver the notice to the domestic limited partnership. [2015, c. 254, §4(NEW).]
3.Effect of reinstatement. When the reinstatement is effective under subsection 2, it relates back to and takes effect as of the effective date of the administrative dissolution, and the domestic limited partnership resumes activities as if the administrative dissolution had not occurred. [2015, c. 254, §4(NEW).]
Added by 2015, c. 254,§ 4, eff. 10/15/2015.