The secretary of state may start an administrative dissolution proceeding against a limited partnership if listed problems exist, and must give notice and dissolve it if the problems are not fixed in time.
The secretary of state may commence a proceeding under subsection (b) to dissolve a limited partnership administratively if: The limited partnership fails to pay any fee, tax, interest, or penalty required to be paid to the secretary of state; The limited partnership fails to deliver an annual report to the secretary of state not later than two (2) months after the report is due; The limited partnership is without a registered agent or registered office in this state for two (2) months or more; The limited partnership does not notify the secretary of state within two (2) months that the limited partnership's registered agent or registered office has been changed, that the limited partnership's registered agent has resigned, or that the limited partnership's registered office has been discontinued; The limited partnership submits to the secretary of state a check, bank draft, money order, or other such instrument, for payment of any fee and the instrument is dishonored upon presentation for payment; A general or limited partner or other representative of a limited partnership signed a document the person knew was false in any material respect, with the intent that the document be filed with the secretary of state; or The name of the limited partnership in any document filed under this chapter fails to comply with § 61-3-112. If the secretary of state determines that one (1) or more grounds exist for administratively dissolving a limited partnership, the secretary of state must serve the partnership with notice in a record of the secretary of state's determination. The record may be sent by first class mail. If a limited partnership, not later than two (2) months after service of the notice under subsection (b), does not cure or demonstrate to the satisfaction of the secretary of state the nonexistence of each ground determined by the secretary of state, the secretary of state must administratively dissolve the partnership by signing a statement of administrative dissolution that recites the grounds for dissolution and the effective date of dissolution. The secretary of state shall file the statement and serve a copy on the partnership pursuant to § 61-3-119, except that the statement of administrative dissolution may be sent by first class mail. A limited partnership that is administratively dissolved continues in existence as an entity but may not carry on any activities except as necessary to wind up the limited partnership's activities and affairs and liquidate its assets under §§ 61-3-802, 61-3-806, 61-3-807, 61-3-808, and 61-3-810, or to apply for reinstatement under § 61-3-812. The administrative dissolution of a limited partnership does not terminate the authority of the limited partnership's registered agent.