178.0904 Reinstatement following administrative revocation.

(1) A partnership whose statement of qualification is administratively revoked may apply to the department for reinstatement. The application shall include all of the following:

(a) The name of the partnership and the effective date of the revocation of its statement of qualification.

(b) A statement that each ground for revocation either did not exist or has been cured.

(c) A statement that the partnership's name satisfies s. 178.0902.

(2)

(a) Upon application, the department shall reinstate a partnership's statement of qualification if the department determines all of the following:

1. That the application contains the information required by sub. (1) and the information is correct.

2. That all fees and penalties owed by the partnership to the department under this chapter have been paid.

(b) Upon reinstatement of a partnership's statement of qualification under par. (a), the department shall enter a notation in its records revising the notation specified in s. 178.09032 (2) (b) to reflect cancellation of the revocation and reinstatement of the partnership's statement of qualification. The notation shall state both the department's determination under par. (a) and the effective date of reinstatement. The department shall provide notice of the reinstatement to the partnership or its representative.

(4) When the reinstatement under this section is effective, all of the following shall apply:

(a) Except as provided in par. (c), the reinstatement relates back to and takes effect as of the effective date of the administrative revocation.

(b) Except as provided in par. (c), the partnership's status as a limited liability partnership continues as if the revocation had never occurred.

(c) The rights of a person arising out of an act or omission in reliance on the revocation before the person knew or had notice of the reinstatement are unaffected.

History: 2015 a. 295.