Effect of Failure to Qualify

4 CMC § 40187 — under Uniform Partnership Act.

4 CMC § 40187

TITLE 4: ECONOMIC RESOURCES

DIVISION 4: CORPORATIONS, PARTNERSHIPS AND ASSOCIATIONS

§ 40187. Effect of Failure to Qualify. (a) A foreign limited liability partnership transacting business in this Commonwealth may not maintain an action or proceeding in this Commonwealth 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 Commonwealth. (c) A limitation on personal liability of a partner is not waived solely by transacting business in this Commonwealth without a statement of foreign qualification. (d) If a foreign limited liability partnership transacts business in this Commonwealth without a statement of foreign qualification, the Registrar of Corporations is its agent for service of process with respect to a right of action arising out of the transaction of business in this Commonwealth. Source: PL 15-88, § 2(1103).