(a) Without excluding other activities that do not constitute transacting business in this State, a foreign limited partnership is considered not to be transacting business in this State, for purposes of this chapter, solely by reason of carrying on in this State any one or more of the following activities:
(1) maintaining, defending, or participating in any action, suit, or proceeding whether judicial, administrative, arbitrative, or otherwise, or effecting the settlement thereof or the settlement of claims or disputes;
(2) holding meetings of its partners or of committees of its partners or carrying on other activities concerning its internal affairs;
(3) maintaining bank accounts;
(4) maintaining offices or agencies for the transfer, exchange, and registration of its securities, or appointing and maintaining trustees;
(5) borrowing or lending or acquiring indebtedness or mortgages or other security interests in real or personal property;
(6) securing or collecting debts or enforcing rights in property securing the same;
(7) effecting a transaction in interstate or foreign commerce;
(8) owning or controlling a corporation incorporated in or transacting business within this State;
(9) conducting within this State an isolated transaction that is completed within a period of one hundred and eighty days and that is not in the course of a series or number of repeated transactions;
(10) effecting sales through independent contractors;
(11) soliciting or procuring orders, by mail or through employees or agents or otherwise, if the orders require acceptance outside this State before becoming binding contracts; or
(12) owning, without more, an interest in a limited liability company organized or transacting business in this State.
(b) The provisions of this section shall not be deemed to establish a standard for activities which may subject a foreign limited partnership to service of process, suit, taxation, or regulation under this chapter or any other statute of this State.
HISTORY: 1986 Act No. 533, Section 1; 2004 Act No. 221, Section 26.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 42 - Uniform Limited Partnership Act
Section 33-42-10. Short title.
Section 33-42-20. Definitions.
Section 33-42-40. Reservation of name.
Section 33-42-45. Assumed name.
Section 33-42-50. Specified office and agent.
Section 33-42-70. Nature of business.
Section 33-42-75. Limited partnerships activities, financial assistance, and duration.
Section 33-42-80. Business transactions of partner with partnership.
Section 33-42-210. Certificate of limited partnership.
Section 33-42-220. Amendment to certificate.
Section 33-42-230. Cancellation of certificate.
Section 33-42-240. Execution of certificates.
Section 33-42-250. Execution by judicial act.
Section 33-42-260. Filing in office of Secretary of State.
Section 33-42-270. Liability for false statement in certificate.
Section 33-42-280. Scope of notice.
Section 33-42-290. Delivery of certificates to limited partners.
Section 33-42-300. Affidavit of general partners' authority.
Section 33-42-310. Status of existing county filings.
Section 33-42-410. Admission of additional limited partners.
Section 33-42-430. Liabilities to third parties.
Section 33-42-440. Person erroneously believing himself limited partner.
Section 33-42-450. Information.
Section 33-42-610. Admission of additional or substitute general partners.
Section 33-42-620. Events of withdrawal.
Section 33-42-630. General powers and liabilities.
Section 33-42-640. Contributions by general partner.
Section 33-42-810. Form of contribution.
Section 33-42-820. Liability for contributions.
Section 33-42-830. Sharing of profits and losses.
Section 33-42-840. Sharing of distributions.
Section 33-42-1010. Interim distributions.
Section 33-42-1020. Withdrawal of general partner.
Section 33-42-1030. Withdrawal of limited partner.
Section 33-42-1040. Distribution upon withdrawal.
Section 33-42-1050. Distribution in kind.
Section 33-42-1060. Right to distribution.
Section 33-42-1070. Limitations on distribution.
Section 33-42-1080. Liability upon return of contribution.
Section 33-42-1210. Nature of partnership interest.
Section 33-42-1220. Assignment of partnership interest.
Section 33-42-1230. Rights of creditor.
Section 33-42-1240. Right of assignee to become limited partner.
Section 33-42-1250. Power of estate of deceased or incompetent partner.
Section 33-42-1410. Nonjudicial dissolution.
Section 33-42-1420. Judicial dissolution.
Section 33-42-1430. Winding up.
Section 33-42-1440. Distribution of assets.
Section 33-42-1610. Law governing.
Section 33-42-1620. Registration.
Section 33-42-1630. Issuance of registration.
Section 33-42-1650. Changes and amendments.
Section 33-42-1660. Cancellation of registration.
Section 33-42-1670. Transaction of business without registration.
Section 33-42-1680. Action of Attorney General.
Section 33-42-1690. Activities not deemed transacting business.
Section 33-42-1810. Right of action.
Section 33-42-1820. Proper plaintiff.
Section 33-42-2010. Construction and application.
Section 33-42-2020. Rules for cases not provided for in this chapter.
Section 33-42-2030. Severability.
Section 33-42-2040. Filing fees.
Section 33-42-2120. Articles of merger; contents; filing.
Section 33-42-2130. Effect of merger; service of process; liability for partnership obligations.