§ 488.903 — Activities not constituting transacting business

Iowa § 488.903

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 488: UNIFORM LIMITED PARTNERSHIP ACT

Text

1. Activities of a foreign limited partnership which do not constitute transacting business
in this state within the meaning of this article include all of the following:
a. Maintaining, defending, and settling an action or proceeding.
b. Holdingmeetingsofitspartnersorcarryingonanyotheractivityconcerningitsinternal
affairs.
c. Maintaining accounts in financial institutions.
d. Maintaining offices or agencies for the transfer, exchange, and registration of the
foreign limited partnership’s own securities or maintaining trustees or depositories with
respect to those securities.
e. Selling through independent contractors.
f. Soliciting or obtaining orders, whether by mail or electronic means or through
employees or agents or otherwise, if the orders require acceptance outside this state before
they become contracts.
g. Creating or acquiring indebtedness, mortgages, or security interests in real or personal
property.
h. Securing or collecting debts or enforcing mortgages or other security interests in
property securing the debts, and holding, protecting, and maintaining property so acquired.
i. Owning, without more, real or personal property.
j. Conducting an isolated transaction that is completed within thirty days and is not one
in the course of similar transactions of a like manner.
k. Transacting business in interstate commerce.
2. For purposes of this article, the ownership in this state of income-producing real or
tangible personal property, other than property excluded under subsection 1, constitutes
transacting business in this state.
3. This section does not apply in determining the contacts or activities that may subject a
foreign limited partnership to service of process, taxation, or regulation under any other law
of this state.