State Codes and Statutes
Statutes > North-carolina > Chapter_59 > GS_59-92§59‑92. Effect of failure to register.
(a) A foreign limitedliability partnership transacting business in this State may not maintain anaction or proceeding in this State unless it has in effect a registration as aforeign limited liability partnership.
(b) The failure of aforeign limited liability partnership to have in effect a registration as aforeign limited liability partnership does not impair the validity of acontract or act of the foreign limited liability partnership or preclude itfrom defending an action or proceeding in this State.
(c) A limitation onpersonal liability of a partner is not waived solely by transacting business inthis State without a registration as a foreign limited liability partnership.
(d) A foreign limitedliability partnership failing to register as a foreign limited liabilitypartnership as required by this Article shall be liable to the State for theyears or parts thereof during which it transacted business in this Statewithout having registered in an amount equal to all fees and taxes which wouldhave been imposed by law upon the foreign limited liability partnership had itduly applied for and received such permission, plus interest and all penaltiesimposed by law for failure to pay such fees and taxes. In addition, the foreignlimited liability partnership shall be liable for a civil penalty of tendollars ($10.00) for each day, but not to exceed a total of one thousanddollars ($1,000) for each year or part thereof, it transacts business in thisState without having registered. The Attorney General may bring actions torecover all amounts due the State under the provisions of this subsection. (1999‑362,s. 10.)
