Code of Massachusetts Regulations
950 CMR - OFFICE OF THE SECRETARY OF THE COMMONWEALTH
Title 950 CMR 108.00 - Limited Partnerships
Section 108.20 - Administrative Dissolution of a Limited Partnership

Universal Citation: 950 MA Code of Regs 950.108

Current through Register 1537, December 20, 2024

(1) If a limited partnership has failed for two consecutive years to comply with the provisions of law requiring the filing of annual reports or if the Director is satisfied that the limited partnership has become inactive and its dissolution would be in the public interest, the Division may commence a proceeding to dissolve the limited partnership pursuant to M.G.L. c. 109, § 64.

(2) A limited partnership may be considered inactive and its dissolution in the public interest, if the limited partnership fails to appoint a resident agent within 60 days after notice from the Division to the limited partnership of the requirement to maintain a resident agent and office in the commonwealth.

(3) The Division shall give written notice to the limited partnership that one or more grounds exist for administrative dissolution. The notice shall be sent by mail postage prepaid to the office required to be maintained by M.G.L. c. 109, § 4. If the limited partnership does not correct each ground for dissolution or demonstrate to the reasonable satisfaction of the Division that each ground does not exist within 90 days after the date of the notice, the Division shall administratively dissolve the limited partnership.

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