Bill Title: Amends the Uniform Partnership Act (UPA). Provides for a number of new filing fees. Provides a procedure for reinstatement of an expired limited liability partnership. Provides that fees for expedited services shall be deposited into the Business Services Special Operations Fund and provides specific fees. Amends the Uniform Limited Partnership Act (ULPA). Provides a new filing deadline for a limited partnership applying to use an assumed name within a calendar year evenly divisible by 5. Strikes language allowing the Secretary of State (SOS) to designate a limited partnership as not in good standing when failing to name and maintain an agent for service of process. Provides a new procedure to resign as an agent for service of process and requires a replacement within 60 days. Provides new procedures and fees for service of process when the SOS is the service agent. Provides that a restated certificate of limited partnership supersedes the original certificate and prior amendments. Provides that electronic filings under the ULPA & UPA must include the name of the person making the submission and that this inclusion satisfies the ULPA's & UPA's signature requirements. Provides that the SOS is not required to send a copy of a filed annual report and receipt. Provides that if an annual report is not timely filed, the SOS shall declare the partnership not in good standing and shall not file documents. Provides for a $100 penalty for failing to file an annual report within 60 days of the due date. Provides a new procedures for reinstatement following administrative dissolution, for an amended application for a certificate of authority, and for reinstatement of a foreign limited partnership following revocation. Repeals Section 1305 of the ULPA requiring documents filed to contain a FEIN. Effective July 1, 2011.

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Passed) 2012-07-20 - Public Act . . . . . . . . . 97-0839 [SB1691 Detail]

Text: Latest bill text (Chaptered) [HTML]

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