[§425E-903] Activities not constituting transacting business. (a) Activities of a foreign limited partnership that do not constitute transacting business in this State within the meaning of this article include:
(b) For purposes of this article, the ownership in this State of income-producing real property or tangible personal property, other than property excluded under subsection (a), constitutes transacting business in this State.
(c) This section shall not apply in determining the [contracts] or activities that may subject a foreign limited partnership to service of process, taxation, or regulation under any other law of this State. [L 2003, c 210, pt of §1]