2006 Kentucky Revised Statutes - .1104   Activities not constituting transacting business.

362.1-1104 Activities not constituting transacting business. (1) Activities of a foreign limited liability partnership which do not constitute transacting business for the purposes of KRS 362.1-1001 to 362.1-1103 include: (a)  Maintaining, defending, or settling an action or proceeding; (b)  Holding meetings of its partners or carrying on any other activity concerning its internal affairs; (c)  Maintaining bank accounts; (d)  Maintaining offices or agencies for the transfer, exchange, and registration of the partnership's own securities or maintaining trustees or depositories with respect to those securities; (e)  Selling through independent contractors; (f)  Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this Commonwealth before they become contracts; (g)  Creating or acquiring indebtedness, with or without a mortgage, or other security interest in property; (h)  Collecting debts or foreclosing mortgages or other security interests in property securing the debts, and holding, protecting, and maintaining property so acquired; (i)  Conducting an isolated transaction that is completed within thirty (30) days and is not one (1) in the course of repeated transactions of a like nature; (j)  Owning, without more, real or personal property; or (k)  Transacting business in interstate commerce. (2) For purposes of KRS 362.1-1101 to 362.1-1105, the ownership in this Commonwealth of income-producing real property or tangible personal property, other than property excluded under subsection (1) of this section, constitutes transacting business in this Commonwealth. (3) The list of activities in subsection (1) of this section shall not be considered exhaustive. This section does not apply in determining the contacts or activities that may subject a foreign limited liability partnership or any partner therein to service of process, taxation, or regulation under any other law of this Commonwealth. Effective: July 12, 2006 History: Created 2006 Ky. Acts ch. 149, sec. 74, effective July 12, 2006. Page 1 of 1