CODE OF VIRGINIA

PENALTY FOR FAILURE TO TIMELY PAY ANNUAL REGISTRATION FEE (§ 50-73.69)

A. Any domestic or any foreign limited partnership that fails to pay the annual
registration fee into the state treasury within the time prescribed in §
50-73.67 shall incur a penalty of $ 25, which shall be added to the amount of
the annual registration fee due. The penalty prescribed herein shall be in
addition to any other penalty or liability imposed by law.

B. The Commission shall mail to each domestic and foreign limited partnership
that fails to pay the annual registration fee within the time prescribed in §
50-73.67 notice of assessment of the penalty imposed herein and of the impending
cancellation of its existence or certificate of registration, as the case may
be. A domestic limited partnership whose certificate has been canceled pursuant
to this section is dissolved upon cancellation and shall be wound up pursuant to
Article 8 (§ 50-73.49 et seq.) of this chapter.

HISTORY: 1985, c. 607; 1996, c. 255; 1998, c. 163; 2000, c. 52; 2004, cc. 274,
601; 2008, c. 586.