{"data":{"id":"us-nm/54-2a-903","jurisdiction":"us-nm","citation":"54-2A-903","heading":"Activities not constituting transacting business.","body":"A. Activities of a foreign limited partnership that do not constitute transacting business in this state within the meaning of Article 9 [54-2A-901 NMSA 1978] of the Uniform Revised Limited Partnership Act include:\n(1) maintaining, defending and settling an action or proceeding, whether judicial, administrative, arbitration or mediation;\n(2) holding meetings of its partners or carrying on any other activity concerning its internal affairs;\n(3) maintaining accounts in financial institutions;\n(4) maintaining offices or agencies for the transfer, exchange and registration of the foreign limited partnership's own securities or maintaining trustees or depositories with respect to those securities;\n(5) selling through independent contractors;\n(6) soliciting or obtaining orders, whether by mail or electronic means or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts;\n(7) creating as borrower or lender or acquiring indebtedness, with or without mortgages or security interests in real or personal property;\n(8) securing or collecting debts or foreclosing mortgages or other security interests in property securing the debts and holding, protecting and maintaining property so acquired;\n(9) investing in or acquiring, in transactions outside New Mexico, royalties and other nonoperating mineral interests; and executing division orders, contracts of sale and other instruments incidental to the ownership of such nonoperating mineral interests;\n(10) owning or controlling an interest in a corporation or other entity that transacts business in this state or is organized under the laws of this state;\n(11) being a partner in a partnership, including a limited partnership, a limited liability partnership or a limited liability limited partnership, that transacts business in this state or is organized under the laws of this state;\n(12) being a member or a manager of a limited liability company that transacts business in this state or is organized under the laws of this state;\n(13) conducting an isolated transaction that is completed within thirty days and is not one in the course of similar transactions of a like manner; and\n(14) transacting business in interstate commerce.\nB. For purposes of Article 9 [54-2A-901 NMSA 1978] of the Uniform Revised Limited Partnership Act, the ownership in this state of income-producing real property or tangible personal property, other than property excluded pursuant to Subsection A of this section, constitutes transacting business in this state.\nC. This section does not apply in determining the contacts or activities that may subject a foreign limited partnership to service of process, taxation or regulation pursuant to any other law of this state.","path":["Chapter 54 - Partnerships","ARTICLE 2A Uniform Revised Limited Partnership Act"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18557/index.do","current_through":"2022-05-12","vintage":"","retrieved_at":"2026-09-03T15:02:20Z","sha256":"b47b4161a3bf7bf1934fd1c32585137346a869626bd9b9d17bdf024b185cb792","source_id":"us-nm","stale":false,"prev":"us-nm/54-2a-902","next":"us-nm/54-2a-904"},"notice":"GroundRules: Original legal text. Not legal advice."}