§425-162 Foreign limited liability partnerships; activities not constituting the transaction of business.

259 words·~1 min read·/hi/chapter-425/425-162

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(a)Activities of a foreign limited liability partnership that do not constitute the transaction of business include:

(1)Maintaining, defending, or settling an action or proceeding;

(2)Holding meetings of its partners or carrying on any other activity concerning its affairs;

(3)Maintaining bank accounts;

(4)Maintaining offices or agencies for the transfer, exchange, and registration of the partnership's own securities, or maintaining trustees or depositories with respect to those securities;

(5)Selling through independent contractors;

(6)Soliciting or obtaining orders, whether by mail or through employees, agents, or otherwise, if the orders require acceptance outside this State before they become contracts;

(7)Creating or acquiring indebtedness, with or without a mortgage, or other security interest in property;

(8)Collecting debts or foreclosing mortgages or other security interests in property securing the debts, and holding, protecting, and maintaining property so acquired;

(9)Conducting an isolated transaction that is completed within thirty days and is not one in the course of similar transactions; and

(10)Transacting business in interstate commerce.

(b)The ownership in this State of income-producing real property or income-producing tangible personal property, other than property excluded under subsection (a), constitutes the transaction of business in this State.

(c)This section shall not apply to a determination of contracts or activities that may subject a foreign limited liability partnership to service of process, taxation, or regulation under any other law of this State. [L 2000, c 218, pt of §1; am L 2002, c 130, §90]