(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.
History: Laws 1997, ch. 76, ยง 19.
Structure 2021 New Mexico Statutes
Article 1A - Uniform Partnerships
Article 11 - Foreign Limited Partnership.
Section 54-1A-1101 - Law governing foreign limited liability partnership.
Section 54-1A-1102 - Statement of foreign qualification.
Section 54-1A-1103 - Effect of failure to qualify.
Section 54-1A-1104 - Activities not constituting transacting business.