                                 CODE OF VIRGINIA

AUTOMATIC CANCELLATION OF CERTIFICATE OF REGISTRATION (§ 50-73.58:1)

A. Whether or not the notice described in subsection B of &#xA7; 50-73.69 is
mailed, if any foreign limited partnership fails to pay its annual registration
fee on or before December 31 of the year assessed, such foreign limited
partnership shall automatically cease to be authorized to transact business in
the Commonwealth and its certificate of registration shall be automatically
canceled as of that day.

B. If any foreign limited partnership whose registered agent has filed with the
Commission a statement of resignation pursuant to &#xA7; 50-73.6 fails to file a
statement of change pursuant to &#xA7; 50-73.5 within 31 days after the date on
which the statement of resignation was filed, the Commission shall mail notice
to the limited partnership of impending cancellation of its certificate of
registration. If the limited partnership fails to file the statement of change
as of the last day of the second month immediately following the month in which
the impending cancellation notice was mailed, the certificate shall be
automatically canceled as of that day.

C. The automatic cancellation of a foreign limited partnership&#8217;s
certificate of registration constitutes the appointment of the clerk of the
Commission as the foreign limited partnership&#8217;s agent for service of
process in any proceeding based on a cause of action arising during the time the
foreign limited partnership was registered to transact business in the
Commonwealth. Service of process on the clerk of the Commission under this
subsection is service on the foreign limited partnership and shall be made on
the clerk in accordance with &#xA7; 12.1-19.1.

D. Cancellation of a foreign limited partnership&#8217;s certificate of
registration does not terminate the authority of the registered agent of the
foreign limited partnership.

HISTORY: 2008, c. 586; 2013, c. 18.