§ 59-93. Activities not constituting transacting business.

345 words·~2 min read·/nc/chapter-59/59-93

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

(a)Without excluding other activities that may not constitute transacting business in this State, a foreign limited liability partnership shall not be considered to be transacting business in this State for the purposes of this Article by reason of carrying on in this State any one or more of the following activities:

(1)Maintaining or defending any action or suit or any administrative or arbitration proceeding or effecting the settlement thereof or the settlement of claims or disputes;

(2)Holding meetings of its partners or carrying on other activities concerning its internal affairs;

(3)Maintaining bank accounts or borrowing money in this State, with or without security, even if such borrowings are repeated and continuous transactions;

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

(5)Soliciting or procuring orders, whether by mail or through employees or agents or otherwise, where the orders require acceptance without this State before becoming binding contracts;

(6)Making or investing in loans with or without security including servicing of mortgages or deeds of trust through independent agencies within the State, the conducting of foreclosure proceedings and sales, the acquiring of property at foreclosure sale, and the management and rental of such property for a reasonable time while liquidating its investment, provided no office or agency therefor is maintained in this State;

(7)Taking security for or collecting debts due to it or enforcing any rights in property securing the same;

(8)Transacting business in interstate commerce;

(9)Conducting an isolated transaction completed within a period of six months and not in the course of a number of repeated transactions of like nature;

(10)Selling through independent contractors; and

(11)Owning, without more, real or personal property.

(b)This section does not apply in determining the contacts or activities that may subject a foreign limited liability partnership to service of process, taxation, or regulation under any other law of this State. (1999-362, s. 10.)