50-73.61 - Transactions not constituting transacting business. - Virginia Statutes

§ 50-73.61. Transactions not constituting transacting business.

A. The following activities, among others, do not constitute transactingbusiness within the meaning of this article:

1. Maintaining, defending, or settling any proceeding;

2. Holding meetings of its partners or carrying on any other activitiesconcerning its internal affairs;

3. Maintaining bank accounts;

4. Maintaining offices or agencies for the transfer, exchange andregistration of the partnership's securities or maintaining trustees ordepositaries with respect to those securities;

5. Selling through independent contractors;

6. Soliciting or obtaining orders, whether by mail or through employees oragents or otherwise, if the orders require acceptance outside thisCommonwealth before they become contracts;

7. Creating or acquiring indebtedness, deeds of trust, and security interestsin real or personal property;

8. Securing or collecting debts or enforcing deeds of trust and securityinterests in property securing the debts;

9. Owning, without more, personal property;

10. Conducting an isolated transaction that is completed within thirty daysand that is not one in the course of repeated transactions of a like nature;

11. For a period of less than ninety consecutive days, producing, directing,filming, crewing or acting in motion picture feature films, television seriesor commercials, or promotional films which are sent outside of theCommonwealth for processing, editing, marketing and distribution; or

12. Serving, without more, as a general partner of, or as a partner in apartnership which is a general partner of, a domestic or foreign limitedpartnership which does not otherwise transact business in this Commonwealth.

B. The term "transacting business" as used in this section shall have noeffect on personal jurisdiction under § 8.01-328.1.

C. The list of activities in subsection A of this section is not exhaustive.This section does not apply in determining the contracts or activities whichmay subject a foreign limited partnership to service of process or taxationin this Commonwealth or to regulation under any other law of thisCommonwealth.

(1985, c. 607; 1987, c. 305; 1990, c. 343.)