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The Vermont Statutes Online
Title
11
:
Corporations, Partnerships and Associations
Chapter
022
:
PARTNERSHIPS
Subchapter
011
:
FOREIGN LIMITED LIABILITY PARTNERSHIP
§
3304. Activities not constituting transacting business
(a) Activities
of a foreign limited liability partnership which do not constitute transacting
business for the purpose of this subchapter 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 personal property;
(8) collecting
debts or foreclosing mortgages or other security interests in property securing
the debts, 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 subchapter, the ownership in this state of income producing real
property or tangible personal property, other than property excluded under
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 liability partnership to service of process, taxation, or
regulation under any other law of this state. (Added 1997, No. 149 (Adj.
Sess.), § 1, eff. Jan. 1, 1999.)