358.500. Legal existence of a registered limited liability partnership to be recognized--partnership formed in other jurisdictions, effect. - Missouri Statutes

Legal existence of a registered limited liability partnership to berecognized--partnership formed in other jurisdictions, effect.

358.500. 1. A partnership, including a registered limited liabilitypartnership, formed pursuant to an agreement governed by the laws of thisstate may conduct its business, carry on its operations, and have andexercise the powers granted by this chapter in any state, territory,district or possession of the United States or in any foreign country.

2. The legal existence of a registered limited liability partnershipformed pursuant to an agreement governed by the laws of this state shall berecognized outside this state and the laws of this state governing such aregistered limited liability partnership shall be granted full faith andcredit under the Constitution of the United States.

3. The internal affairs of a partnership, including a registeredlimited liability partnership, formed pursuant to an agreement governed bythe laws of this state, including the liability of partners for debts,obligations, and liabilities of or chargeable to the partnership, shall besubject to and governed by the laws of this state.

4. The internal affairs of a partnership, including a limitedliability partnership, formed pursuant to an agreement governed by the lawsof another jurisdiction, including the liability of partners for debts,obligations and liabilities of, or chargeable to the partnership, shall besubject to, and governed by, the laws of such other jurisdiction.

(L. 1995 H.B. 558)