The Vermont Statutes Online
Corporations, Partnerships and Associations
FOREIGN LIMITED LIABILITY PARTNERSHIP
3303. Effect of failure to qualify
(a) A foreign
limited liability partnership transacting business in this state may not
maintain an action or proceeding in this state unless it has in effect a
statement of foreign qualification.
(b) The failure
of a foreign limited liability partnership to have in effect a statement of
foreign qualification does not impair the validity of a contract or act of the
foreign limited liability partnership or preclude it from defending an action
or proceeding in this state.
(c) A limitation
on personal liability of a partner is not waived solely by transacting business
in this state without a statement of foreign qualification.
(d) If a foreign
limited liability partnership transacts business in this state without a
statement of foreign qualification, the secretary of state is its agent for
service of process with respect to a right of action arising out of the
transaction of business in this state. (Added 1997, No. 149 (Adj. Sess.), § 1,
eff. Jan. 1, 1999.)