§ 3487 - Transaction of business without registration - Vermont Statutes

§ 3487. Transaction of business without registration

(a) A foreign limited partnership transacting business in this state may not maintain any action, suit, or proceeding in any court of this state until it has registered in this state.

(b) The failure of a foreign limited partnership to register in this state does not impair the validity of any contract or act of the foreign limited partnership or prevent the foreign limited partnership from defending any action, suit, or proceeding in any court of this state.

(c) A limited partner of a foreign limited partnership is not liable as a general partner of the foreign limited partnership solely by reason of having transacted business in this state without registration.

(d) A foreign limited partnership, by transacting business in this state without registration, appoints the secretary of state as its agent for service of process with respect to claims for relief and causes of action arising out of the transaction of business in this state. (Added 1997, No. 149 (Adj. Sess.), § 4, eff. Jan. 1, 1999.)