Section 121-904. Application for authority; effect  


Latest version.
  • (a) Upon filing by the
      department of state of the application for authority the foreign limited
      partnership shall be authorized to  do  business  in  this  state.  Such
      authority  shall  continue  so  long  as  it retains its authority to do
      business in the jurisdiction of its formation and its  authority  to  do
      business  has  not been surrendered, suspended or annulled in accordance
      with the law.
        (b) A foreign limited partnership which has received a certificate  of
      authority  shall  have  such powers to conduct business in this state as
      are permitted by the laws of the jurisdiction in which it was  organized
      but  no  greater than those of a domestic limited partnership; provided,
      that this subdivision shall not affect the powers of the foreign limited
      partnership outside this state.