Current through the 2024 Regular Session
Section 79-14-1005 - Activities not constituting doing business(a) Activities of a foreign limited partnership which do not constitute doing business in this state under this article include: (1) Maintaining, defending, mediating, arbitrating, or settling an action or proceeding;(2) Carrying on any activity concerning its internal affairs, including holding meetings of its partners;(3) Maintaining accounts in financial institutions;(4) Maintaining offices or agencies for the transfer, exchange, and registration of securities of the partnership or maintaining trustees or depositories with respect to those securities;(5) Selling through independent contractors;(6) Soliciting or obtaining orders by any means if the orders require acceptance outside this state before they become contracts;(7) Creating or acquiring indebtedness, mortgages, or security interests in property;(8) Securing or collecting debts or enforcing mortgages or security interests in property securing the debts and holding, protecting, or maintaining property;(9) Conducting an isolated transaction that is not in the course of similar transactions;(10) Owning, without more, property; and(11) Doing business in interstate commerce.(b) A person does not do business in this state solely by being a partner of a foreign limited partnership that does business in this state.(c) This section does not apply in determining the contacts or activities that may subject a foreign limited partnership to service of process, taxation, or regulation under law of this state other than this chapter.Added by Laws, 2015, ch. 453, SB 2310, 1, eff. 7/1/2015.