§ 4-38-905 — Activities not constituting doing business

(a) Activities of a foreign limited liability company which do not constitute doing business in this state under this subchapter 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 members or managers; (3) maintaining accounts in financial institutions; (4) maintaining offices or agencies for the transfer, exchange, and registration of securities of the company 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 member or manager of a foreign limited liability company that does business in this state. (c) This section does not apply in determining the contacts or activities that may subject a foreign limited liability company to service of process, taxation, or regulation under law of this state other than this chapter.

Legislative History

Added by Act 2021, No. 1041,§ 26, eff. 7/28/2021.