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362.2-903 Activities not constituting transacting business. (Repealed, effective
January 1, 2011)
(1) Activities of a foreign limited partnership which do not constitute transacting
business in this Commonwealth within the meaning of KRS 362.2-901 to 362.2-908 <br>include: <br>(a) Maintaining, defending, and settling an action or proceeding; <br>(b) Holding meetings of its partners or carrying on any other activity concerning
its internal affairs;
(c) Maintaining accounts in financial institutions; <br>(d) Maintaining offices or agencies for the transfer, exchange, and registration of
the foreign limited partnership's own securities or maintaining trustees or <br>depositories with respect to those securities;
(e) Selling through independent contractors; <br>(f) Soliciting or obtaining orders, whether by mail or electronic means or through
employees or agents or otherwise, if the orders require acceptance outside this <br>Commonwealth before they become contracts;
(g) Creating or acquiring indebtedness, mortgages, or security interests in real or
personal property;
(h) Securing or collecting debts or enforcing mortgages or other security interests
in property securing the debts, and holding, protecting, and maintaining <br>property so acquired;
(i) Owning, without more, real or personal property; <br>(j) Conducting an isolated transaction that is completed within thirty (30) days
and is not one in the course of similar transactions of a like manner; and
(k) Transacting business in interstate commerce.
(2) 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 <br>may subject a foreign limited partnership to service of process, taxation, or <br>regulation under any other law of this Commonwealth.
(3) The term "transacting business" as used in this section shall have no effect on
personal jurisdiction under KRS 454.210.
Effective: July 15, 2010 <br>History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 159, effective July 15,
2010; and repealed ch. 151, sec. 151, effective January 1, 2011. -- Amended 2007 <br>Ky. Acts ch. 137, sec. 159, effective June 26, 2007. -- Created 2006 Ky. Acts <br>ch. 149, sec. 163, effective July 12, 2006.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183,
provides, "The specific textual provisions of Sections 1 to 178 of this Act which <br>reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed <br>effective as of June 26, 2007, and those provisions are hereby made expressly <br>retroactive to that date, with the remainder of the text of those sections being <br>unaffected by the provisions of this section."
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Legislative Research Commission Note (1/1/2011). 2010 Ky. Acts ch. 151, sec. 151,
has repealed this statute effective January 1, 2011.
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