Form Lp 42 - Application For Registration Of A Foreign Limited Partnership In Missouri

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Missouri Revised Statutes
Chapter 359
Uniform Limited Partnership Law
Section 359.551
August 28, 2005
Transaction of business without registration, effect, penalty, fine--report by secretary
to prosecuting attorney, when--long arm statutes, applicable--transacting business,
elements of.
359.551. 1. Every foreign limited partnership now doing business in or which may hereafter do business
in this state which shall neglect or fail to comply with the provisions of section 359.501 shall be subject
to a fine of not less than one thousand dollars to be recovered before any court of competent jurisdiction;
and it is hereby made the duty of the secretary of state immediately after August first of each year, and
as often thereafter as the secretary of state may be advised that limited partnerships are doing business in
contravention of this chapter, to report the fact to the prosecuting attorney of any city or county in which
the limited partnership is doing business and the prosecuting attorney shall, as soon thereafter as is
practicable, institute proceedings to recover the fine herein provided for, which shall go into the revenue
fund of the city or county in which the cause shall accrue; in addition to which penalty, no foreign
limited partnership, failing to comply with this chapter, can maintain any suit or action, either legal or
equitable, in any of the courts of this state, upon any demand, whether arising out of contract or tort,
while the requirements of this chapter have not been complied with.
2. The failure of a foreign limited partnership to register in this state does not impair the validity of any
contract or act of the foreign limited partnership or prevent the foreign limited partnership from
defending any action, suit, or proceeding in any court of this state.
3. A limited partner of a foreign limited partnership is not liable as a general partner of the foreign
limited partnership solely by reason of having transacted business in this state without registration.
4. A foreign limited partnership, by transacting business in this state without registration, shall be a firm
subject to the provisions of sections 506.500 to 506.520, RSMo, with respect to causes of action arising
out of the transaction of business in this state.
5. Without excluding other activities which may not constitute transacting business in this state, a
foreign limited partnership shall not be considered to be transacting business in this state, for the
purposes of this chapter, by reason of carrying on in this state any one or more of the following
(1) Maintaining or defending any action or suit or any administrative or arbitration proceeding, or
effecting the settlement thereof or the settlement of claims or disputes;
(2) Holding meetings of its partners or carrying on other activities concerning its internal affairs;
(3) Maintaining bank accounts;
(4) Borrowing money or creating evidence of debt, mortgage or lien on or other security interest in real
or personal property;


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