Print

The Vermont Statutes Online



Title

11

:
Corporations, Partnerships and Associations






Chapter

022

:
PARTNERSHIPS






Subchapter

010
:
LIMITED LIABILITY PARTNERSHIP










 

§

3293. Annual report

(a) A limited

liability partnership, and a foreign limited liability partnership authorized

to transact business in this state, shall file an annual report in the office

of the secretary of state which contains:

(1) the name of

the limited liability partnership and the state or other jurisdiction under

whose laws the foreign limited liability partnership is formed;

(2) the street

address of the partnership's principal office and, if different, the street

address of an office in this state, if any; and

(3) if the

partnership does not have an office in this state, the name and street address

of the partnership's designated agent for service of process.

(b) An annual

report must be filed between January 1 and April 1 of each year following the

calendar year in which a partnership files a statement of qualification or a

foreign partnership becomes authorized to transact business in this state.

(c) The

secretary of state may revoke the statement of qualification of a partnership

that fails to file an annual report when due or pay the required filing fee. To

do so, the secretary of state shall provide the partnership at least 60 days'

written notice of intent to revoke the statement. The notice must be mailed to

the partnership at its designated office set forth in the last filed statement

of qualification or annual report. The notice must specify the annual report

that has not been filed, the fee that has not been paid, and the effective date

of the revocation. The revocation is not effective if the annual report is

filed and the fee is paid before the effective date of the revocation.

(d) A revocation

under subsection (c) of this section only affects a partnership's status as a

limited liability partnership and is not an event of dissolution of the

partnership.

(e) A

partnership whose statement of qualification has been revoked may apply to the

secretary of state for reinstatement within two years after the effective date

of the revocation. The application must state:

(1) the name of

the partnership and the effective date of the revocation; and

(2) that the

ground for revocation either did not exist or has been corrected.

(f) A

reinstatement under subsection (e) of this section relates back to and takes

effect as of the effective date of the revocation, and the partnership's status

as a limited liability partnership continues as if the revocation had never

occurred. (Added 1997, No. 149 (Adj. Sess.), § 1, eff. Jan. 1, 1999.)