2015 -- H 5087

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LC000345

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2015

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A N   A C T

RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS --

PARTNERSHIPS

     

     Introduced By: Representatives Newberry, Edwards, and Shekarchi

     Date Introduced: January 14, 2015

     Referred To: House Finance

     It is enacted by the General Assembly as follows:

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     SECTION 1. Section 7-12-56 of the General Laws in Chapter 7-12 entitled

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"Partnerships" is hereby amended to read as follows:

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     7-12-56. Registered limited liability partnerships. -- (a) To become and to continue as

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a registered limited liability partnership, a partnership shall file with the secretary of state an

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application or a renewal application, stating the name of the partnership, the address of its

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principal office, if the partnership's principal office is not located in this state, the address of a

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registered office and the name and address of a registered agent for service of process in this state

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which a partnership is required to maintain. In addition, partnerships under this section shall

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provide the names and addresses of all resident partners, the place where the business records of

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the partnership are maintained, or if more than one location for business records is maintained,

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then the principal place of business of the partnership, number, a brief statement of the business

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in which the partnership engaged, and that the partnership applies for status or renewal of its

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status, as a registered limited liability partnership.

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      (b) The application or renewal application is executed by a majority in interest of the

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partners or by one or more partners authorized to execute an application or renewal application.

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      (c) The application or renewal application is accompanied by a fee of one hundred

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dollars ($100) one hundred fifty dollars ($150) for each partner, not to exceed two thousand five

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hundred dollars ($2,500) for each partnership's initial filing or subsequent renewal application.

 

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     Renewal applications are to be filed yearly and are to be accompanied by a fee of fifty

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dollars ($50.00).

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      (d) The secretary of state shall register as a registered limited liability partnership, and

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shall renew the registration of any limited liability partnership, any partnership that submits a

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completed application or renewal application with the required fee.

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      (e) Registration is effective for one year after the date an application is filed, unless

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voluntarily withdrawn by filing with the secretary of state a written withdrawal notice executed

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by a majority in interest of the partners or by one or more partners authorized to execute a

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withdrawal. Registration, whether pursuant to an original application or a renewal application, as

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a registered limited liability partnership is renewed if, during the sixty (60) day period preceding

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the date the application or renewal application otherwise would have expired, the partnership

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filed with the secretary of state a renewal application. A renewal application expires one year

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after the date an original application would have expired if the last renewal of the application had

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not occurred.

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      (f) The status of a partnership as a registered limited liability partnership is not affected

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by changes after the filing of an application or a renewal application in the information stated in

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the application or renewal application.

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      (g) The secretary of state may provide forms for application for or renewal of

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registration. Any renewals shall maintain resident partners as set out in this section.

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      (h) A partnership that registers as a registered limited liability partnership is not deemed

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to have dissolved as a result of that registration and is for all purposes the same partnership that

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existed before the registration and continues to be a partnership under the laws of this state. If a

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registered limited liability partnership dissolves, a partnership which is a successor to the

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registered limited liability partnership and which intends to be a registered limited liability

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partnership is not required to file a new application and is deemed to have filed any documents

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required or permitted under this chapter which were filed by the predecessor partnership.

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      (i) The fact that an application or renewal application is on file in the office of the

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secretary of state is notice that the partnership is a registered limited liability partnership and is

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notice of all other facts stated in the application or renewal application.

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     SECTION 2. This act shall take effect upon passage.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO CORPORATIONS, ASSOCIATIONS, AND PARTNERSHIPS --

PARTNERSHIPS

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     This act would change the filing fee for a limited liability partnership from one hundred

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dollars ($100) for each partner, not to exceed two thousand five hundred dollars ($2,500) in total,

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to a flat fee of one hundred fifty dollars ($150). This act would also change the fee for the

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renewal application from one hundred dollars ($100) for each partner, not to exceed two thousand

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five hundred dollars ($2,500) in total, to an annual flat fee of fifty dollars ($50.00).

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     This act would take effect upon passage.

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