§ 121-1503 — Transaction of business outside the state

§ 121-1503. Transaction of business outside the state. (a) It is the\nintent of the legislature that the registration of a partnership without\nlimited partners as a registered limited liability partnership under\nthis article shall be recognized beyond the limits of this state and\nthat such registered limited liability partnership may conduct its\nbusiness or activities, carry on its operations, and have and exercise\nthe powers granted by this article in any state, territory, district or\npossession of the United States or in any foreign country and that,\nsubject to any reasonable registration requirements any such registered\nlimited liability partnership transacting business outside this state\nand the laws of this state governing such registered limited liability\npartnership shall be granted the protection of full faith and credit\nunder section 1 of article IV of the Constitution of the United States.\n (b) It is the policy of this state that the internal affairs of a\npartnership without limited partners registered as a registered limited\nliability partnership under this article and the liability of partners\nin a registered limited liability partnership for debts, obligations and\nliabilities of, or chargeable to, the registered limited liability\npartnership shall be subject to and governed by the laws of this state,\nincluding the provisions of this article.\n