42:1A-52. Foreign qualification required; effects of failure
151 words·~1 min read·
/nj/title-42/chapter-1a/42-1a-52·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
52. a. A foreign limited liability partnership transacting business in this State shall not maintain an action or proceeding in this State unless it has in effect a statement of foreign qualification.
b. The failure of a foreign limited liability partnership to have in effect a statement of foreign qualification shall not impair the validity of a contract or act of the foreign limited liability partnership or preclude it from defending an action or proceeding in this State.
c. A limitation on personal liability of a partner shall not be waived solely by transacting business in this State without a statement of foreign qualification.
d. If a foreign limited liability partnership transacts business in this State without a statement of foreign qualification, the State Treasurer shall be its agent for service of process with respect to a right of action arising out of the transaction of business in this State.
L.2000,c.161,s.52.