Bill No.: HB0004                  Drafter:  LGC

LSO No.:  07LSO-0039              Effective Date:  7/1/2007

Enrolled Act No.:  HEA0006

Chapter No.:       18

Prime Sponsor:     Joint Corporations, Elections and Political Subdivisions Interim Committee

Catch Title:       Business entities-reinstatement.

Subject:           Limited partnerships and registered limited liability partnerships.

Summary/Major Elements:

· The act provides a mechanism for reinstating a limited partnership after it has been administratively dissolved for failure to pay fees.

· The act provides a mechanism for reinstating a registered limited liability partnership after its registration has lapsed for failure to pay fees.

· The act provides that the reinstatement relates back and takes effect as of the date of administrative dissolution or lapse of registration.