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The Vermont Statutes Online
Title
11
:
Corporations, Partnerships and Associations
Chapter
021
:
LIMITED LIABILITY COMPANIES
Subchapter
010
:
FOREIGN LIMITED LIABILITY COMPANIES
[Section 3133 repealed effective July 1, 2016.]
[Section 3133 repealed effective July 1,
2016.]
§
3133. Activities not constituting transacting business
(a) A foreign
limited liability company may not transact business in this State until it
obtains a certificate of authority from the Secretary of State.
(b) Except as
provided in subsection (c) of this section, "doing business" or
"transacting business" shall mean and include each act, power or
privilege exercised or enjoyed in this State by a foreign limited liability
company.
(c) Among
others, the following activities without more do not constitute transacting
business for the purpose of determining whether a foreign limited liability
company is required to obtain a certificate of authority under subsection (a)
of this section:
(1) maintaining,
defending or settling any proceeding;
(2) holding
meetings of its members or managers 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 foreign
company'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, mortgages, or security interests in real or personal
property;
(8) securing or
collecting debts or enforcing mortgages or other security interests in property
securing the debts, and holding, protecting, and maintaining property so
acquired;
(9) owning real
or personal property;
(10) conducting
an isolated transaction that is not one in the course of repeated transactions
of a like nature; or
(11) transacting
business in interstate commerce. (Added 1995, No. 179 (Adj. Sess.), § 4.)