Section 358.500

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 358

Effective - 28 Aug 1995   

  358.500.  Legal existence of a registered limited liability partnership to be recognized — partnership formed in other jurisdictions, effect. — 1.  A partnership, including a registered limited liability partnership, formed pursuant to an agreement governed by the laws of this state may conduct its business, carry on its operations, and have and exercise 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 partnership formed pursuant to an agreement governed by the laws of this state shall be recognized outside this state and the laws of this state governing such a registered limited liability partnership shall be granted full faith and credit under the Constitution of the United States.

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

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

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(L. 1995 H.B. 558)