Rule 590-7-12-.08 - Foreign Limited Partnerships(1)Initial qualification.(a) A foreign limited partnership transacting business in this State shall procure a certificate of authority to do so from the Secretary of State. This certificate may be procured by the filing of the application for certificate of authority form for foreign limited partnerships, as prescribed by the Secretary of State, and the payment of the fees as set forth in the fee schedule published by the Secretary of State. A foreign limited partnership does not have to file a certified certificate of existence from its home state in order to obtain a certificate of authority in Georgia.(b) The application for certificate of authority form, as prescribed by the Secretary of State, shall contain the information required by O.C.G.A. Section 14-9-902 and any other information necessary to determine whether the applicant is subject to any fees or penalties imposed by the Code or the fee schedule published by the Commissioner.(2)Subsequent filings. Each foreign limited partnership qualified to do business in this State shall maintain its qualification in its home state. All filings required by such state must be current in order to maintain good standing of active status in Georgia. Such limited partnership is required to file an annual registration in Georgia between January 1 and April 1 of each year. Limited partnership action resulting in a change of the limited partnership name, change in the state of formation, or withdrawal from doing business in this State must be filed directly with the Secretary of State. All other limited partnership actions requiring filings will be deemed to be filed with the Secretary of State if properly filed in the state of formation. The foreign limited partnership, by filing its application for authority, undertakes to promptly provide such filings to the Secretary of State upon request.(3)Time period for qualification; penalties. A foreign limited partnership may not transact business in this state until it obtains a certificate of authority from the Secretary of State. If a foreign limited partnership does not obtain said certificate within 30 days of the commencement of business in Georgia, the foreign limited partnership shall be liable for the civil penalty set forth in the Code, in addition to any other fees and/or penalties which may be assessed for transacting business in this state without a certificate of authority.Ga. Comp. R. & Regs. R. 590-7-12-.08
O.C.G.A. §§ 14-5-23, 14-9-1102, 14-9-1103.
Original Rule entitled "Foreign Limited Partnerships" was filed on June 10, 1988; effective July 1, 1988, as specified by the Agency.Amended: F. Jul. 1, 1993; eff. July 21, 1993.Note: Subsequent ER adoptions of Rule filed by Agency; see "Admin. Hist." Amended: F. Nov. 26, 2018; eff. Dec. 16, 2018.