§ 15909.07. — 15909.07. (Amended by Stats. 2014, Ch. 834, Sec. 29.)

California § 15909.07.

• Jurisdiction: California
• Code CORP: Corporations Code - CORP
• Title 2.: TITLE 2. PARTNERSHIPS
• Ch. 4.5.: CHAPTER 4.5. Uniform Limited Partnership Act of 2008
• Art. 9.: ARTICLE 9. Foreign Limited Partnership

Text

(a)
In order to cancel its certificate of registration to transact business in this state, a foreign limited partnership must deliver to and on a form prescribed by the Secretary of State for filing a certificate of cancellation containing the name of the foreign limited partnership and the Secretary of State’s file number of the foreign limited partnership signed and acknowledged by a general partner of the foreign limited partnership. The registration is canceled when the certificate becomes effective under Section 15902.06.
(b)
A foreign limited partnership transacting business in this state may not maintain an action or proceeding in this state unless it has a certificate of
registration to transact business in this state.
(c)
Any foreign limited partnership that transacts intrastate business in this state without registration is subject to a penalty of twenty dollars ($20) for each day that the unauthorized intrastate business is transacted, up to a maximum of ten thousand dollars ($10,000). An action to recover this penalty may be brought, and any recovery shall be paid, as provided in Section 2258.
(d)
The failure of a foreign limited partnership to have a certificate of registration to transact business in this state does not impair the validity of a contract or act of the foreign limited partnership or prevent the foreign limited partnership from defending an action or proceeding in this state.
(e)
A partner of a foreign limited partnership is not liable for the obligations of the
foreign limited partnership solely by reason of the foreign limited partnership’s having transacted business in this state without a certificate of registration.
(f)
If a foreign limited partnership transacts business in this state without a certificate of registration or cancels its certificate of registration, it appoints the Secretary of State as its agent for service of process for rights of action arising out of the transaction of business in this state.

Legislative History

Amended by Stats. 2014, Ch. 834, Sec. 29. (SB 1041) Effective January 1, 2015.