323A.1104 ACTIVITIES NOT CONSTITUTING TRANSACTING BUSINESS.
(a) Activities of a foreign limited liability partnership which do not constitute transacting
business for the purpose of this article include:
(1) maintaining, defending, or settling an action or proceeding;
(2) holding meetings of its partners or carrying on any other activity concerning its internal
affairs;
(3) maintaining bank accounts;
(4) maintaining offices or agencies for the transfer, exchange, and registration of the
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 through employees or agents or
otherwise, if the orders require acceptance outside this state before they become contracts;
(7) creating or acquiring indebtedness, with or without a mortgage, or other security interest
in property;
(8) collecting debts, including foreclosing mortgages, canceling contracts for deed, enforcing
other security interests on property securing debts, accepting deeds or other instruments of title
from debtors in lieu of foreclosure, cancellation or other enforcement, and holding, protecting,
and maintaining property so acquired;
(9) conducting an isolated transaction that is completed within 30 days and is not one in the
course of similar transactions; and
(10) transacting business in interstate commerce.
(b) For purposes of this article, the ownership in this state of income-producing real property
or tangible personal property, other than property excluded under subsection (a), constitutes
transacting business in this state.
(c) This section does not apply in determining the contacts or activities that may subject a
foreign limited liability partnership to service of process, taxation, or regulation under any other
law of this state.
History: 1997 c 174 art 11 s 59