Iowa Code 488.906 – Revocation of certificate of authority
Current as of: 2023 | Check for updates
|
Other versions
1. A certificate of authority of a foreign limited partnership to transact business in this state may be revoked by the secretary of state in the manner provided in subsections 2 and 3 if the foreign limited partnership does not do any of the following:
a. Pay, within sixty days after the due date, any fee, tax or penalty under this chapter or other law due the secretary of state.
b. Deliver, within sixty days after the due date, its biennial report required under section 488.210.
c. Appoint and maintain a registered agent for service of process as required by section 488.114, subsection 2.
d. Deliver for filing a statement of a change under section 488.115 within thirty days after a change has occurred in the name or address of the registered agent for service of process.
Terms Used In Iowa Code 488.906
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Foreign limited partnership: means a partnership formed under the laws of a jurisdiction other than Iowa and required by those laws to have one or more general partners and one or more limited partners. See Iowa Code 488.102
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Registered office: means :a. See Iowa Code 488.102
- Service of process: The service of writs or summonses to the appropriate party.
- Sign: means either of the following:
a. See Iowa Code 488.102- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Iowa Code 488.102
2. In order to revoke a certificate of authority, the secretary of state must prepare, sign, and file a notice of revocation and send a copy to the foreign limited partnership’s registered agent for service of process in this state, or if the foreign limited partnership does not appoint and maintain a proper agent in this state, to the foreign limited partnership’s registered office. The notice must state all of the following:a. The revocation’s effective date, which must be at least sixty days after the date the secretary of state sends the copy.b. The foreign limited partnership’s failures to comply with subsection 1 which are the reason for the revocation.3. The authority of the foreign limited partnership to transact business in this state ceases on the effective date of the notice of revocation unless before that date the foreign limited partnership cures each failure to comply with subsection 1 stated in the notice. If the foreign limited partnership cures the failures, the secretary of state shall so indicate on the filed notice.