New Mexico § 54-2A-903 Activities not constituting transacting business

New Mexico Statutes

§ 54-2A-903 — Activities not constituting transacting business

New Mexico § 54-2A-903

Ch. 54Partnerships

Art. 9Foreign Limited Partnerships

This text of New Mexico § 54-2A-903 (Activities not constituting transacting business) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 54-2A-903 (2026).

Text

A. Activities of a foreign limited partnership that do not constitute transacting business in this state within the meaning of Article 9 [54-2A-901 NMSA 1978] of the Uniform Revised Limited Partnership Act include:

(1)maintaining, defending and settling an action or proceeding, whether judicial, administrative, arbitration or mediation;

(2)holding meetings of its partners or carrying on any other activity concerning its internal affairs;

(3)maintaining accounts in financial institutions;

(4)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;

(5)selling through independent contractors;

(6)soliciting or obtaining orders, whether by mail o

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A. Activities of a foreign limited partnership that do not constitute transacting business in this state within the meaning of Article 9 [54-2A-901 NMSA 1978] of the Uniform Revised Limited Partnership Act include: (1) maintaining, defending and settling an action or proceeding, whether judicial, administrative, arbitration or mediation; (2) holding meetings of its partners or carrying on any other activity concerning its internal affairs; (3) maintaining accounts in financial institutions; (4) 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; (5) selling through independent contractors; (6) 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; (7) creating as borrower or lender or acquiring indebtedness, with or without mortgages or security interests in real or personal property; (8) securing or collecting debts or foreclosing mortgages or other security interests in property securing the debts and holding, protecting and maintaining property so acquired; (9) investing in or acquiring, in transactions outside New Mexico, royalties and other nonoperating mineral interests; and executing division orders, contracts of sale and other instruments incidental to the ownership of such nonoperating mineral interests; (10) owning or controlling an interest in a corporation or other entity that transacts business in this state or is organized under the laws of this state; (11) being a partner in a partnership, including a limited partnership, a limited liability partnership or a limited liability limited partnership, that transacts business in this state or is organized under the laws of this state; (12) being a member or a manager of a limited liability company that transacts business in this state or is organized under the laws of this state; (13) conducting an isolated transaction that is completed within thirty days and is not one in the course of similar transactions of a like manner; and (14) transacting business in interstate commerce. B. For purposes of Article 9 [54-2A-901 NMSA 1978] of the Uniform Revised Limited Partnership Act, the ownership in this state of income-producing real property or tangible personal property, other than property excluded pursuant to Subsection A of this section, constitutes transacting business in this state. C. 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 pursuant to any other law of this state.