Section 425E-809 - Administrative cancellation(a) The director may cancel the certificate of a limited partnership administratively if the partnership fails to: (1) Pay any fees prescribed by law;(2) File its annual statement for a period of two years;(3) Appoint and maintain an agent for service of process as required; or(4) File a statement of a change in the name or business address of the agent as required. Administrative cancellation shall not relieve the general partners of liability for the penalties for the failure to file any statement or certificate required by this chapter.
(b) A limited partnership administratively canceled continues its existence but may carry on only activities necessary to wind up its activities and liquidate its assets under sections 425E-803 and 425E-812 and to notify claimants under sections 425E-806 and 425E-807.(c) The administrative cancellation of a limited partnership shall not terminate the authority of its agent for service of process. L 2003, c 210 , pt of §1; am L 2006, c 184, §24 .