Current through the 2024 Legislative Session
Section 425-161 - Foreign limited liability partnerships; effect of failure to qualify(a) A foreign limited liability partnership engaged in the transaction of 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 is not waived solely by the transaction of 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 director shall be its agent for service of process with respect to a right of action arising out of a business transaction in this State.