Illinois Compiled Statutes 805 ILCS 206/1104 – Activities not constituting transacting business
Current as of: 2024 | Check for updates
|
Other versions
(a) Without excluding other activities that may not constitute transacting business in this State, a foreign partnership or registered limited liability partnership shall not be considered to be transacting business in this State, for purposes of this Article 9, by reason of carrying on in this State any one or more of the following activities:
(1) maintaining, defending, or settling any
(1) maintaining, defending, or settling any
|
proceeding;
|
(2) holding meetings of the partners or carrying on
|
other activities concerning internal partnership affairs;
|
(3) maintaining bank accounts;
(4) maintaining offices or agencies for the transfer,
Terms Used In Illinois Compiled Statutes 805 ILCS 206/1104
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Personal property: All property that is not real property.
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
(4) maintaining offices or agencies for the transfer,
|
exchange, and registration of the limited liability partnership’s own securities or maintaining trustees or depositaries with respect to those securities;
|
(5) selling through independent contractors;
(6) soliciting or obtaining orders, whether by mail
(6) soliciting or obtaining orders, whether by mail
|
or through employees or agents or otherwise, if orders require acceptance outside this State before they become contracts;
|
(7) owning, without more, real or personal property;
(8) conducting an isolated transaction that is
(8) conducting an isolated transaction that is
|
completed within 120 days and that is not one in the course of repeated transactions of a like nature; or
|
(9) having a partner who is a resident of this State.
(b) This Section has no application to the question of whether any partnership or registered limited liability partnership is subject to service of process and suit in this State under any law of this State.
(b) This Section has no application to the question of whether any partnership or registered limited liability partnership is subject to service of process and suit in this State under any law of this State.