2006 Kentucky Revised Statutes - .809   Administrative dissolution.

362.2-809 Administrative dissolution. (1) The Secretary of State may commence a proceeding to administratively dissolve a domestic limited partnership if: (a)  The limited partnership does not file its annual report with the Secretary of State within sixty (60) days after it is due; (b)  The limited partnership is without a registered agent or registered office in this Commonwealth for sixty (60) days or more; or (c)  The partnership does not notify the Secretary of State within sixty (60) days that its registered agent or registered office has been changed, that its registered agent has resigned, or that its registered office has been discontinued. (2) If the Secretary of State determines that one (1) or more grounds exist for the administrative dissolution of a limited partnership, then he shall send to the partnership at its registered office by first class mail a written notice of that determination. (3) If the limited partnership does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Secretary of State that each ground determined by the Secretary of State does not exist within sixty (60) days from the date on which the notice was mailed, then the Secretary of State shall administratively dissolve the limited partnership by signing a certificate of dissolution that recites the ground or grounds for dissolution and its effective date. The Secretary of State shall file the original certificate and serve a copy on the limited partnership by mailing such certificate by first class mail to the limited partnership at its registered office. (4) A limited partnership administratively dissolved continues its existence but shall not carry on any business except that necessary to wind up and liquidate its business and affairs as provided in KRS 362.2-803 to 362.2-812. (5) The administrative dissolution of a limited partnership shall not terminate the authority of its registered agent. Effective: July 12, 2006 History: Created 2006 Ky. Acts ch. 149, sec. 157, effective July 12, 2006. Page 1 of 1