§425E-809  Administrative cancellation. (a)  The director may cancel the certificate of a limited partnershipadministratively if the partnership fails to:

(1)  Pay any fees prescribed by law;

(2)  File its annual statement for a period of twoyears;

(3)  Appoint and maintain an agent for service ofprocess as required; or

(4)  File a statement of a change in the name orbusiness address of the agent as required.

Administrative cancellation shall not relieve thegeneral partners of liability for the penalties for the failure to file anystatement or certificate required by this chapter.

(b)  A limited partnership administrativelycanceled continues its existence but may carry on only activities necessary towind up its activities and liquidate its assets under sections 425E-803 and425E-812 and to notify claimants under sections 425E-806 and 425E-807.

(c)  The administrative cancellation of alimited partnership shall not terminate the authority of its agent for serviceof process. [L 2003, c 210, pt of §1; am L 2006, c 184, §24]