§ 7-16-48. Law governing foreign limited liability companies.
(a) Subject to the constitution of this state:
(1) The laws of the state or other jurisdiction under which a foreign limited liability company is organized govern its organization and internal affairs and the liability of its members; and
(2) A foreign limited liability company may not be denied registration by reason of any difference between those laws and the laws of this state.
(b) A foreign limited liability company holding a valid registration in this state has no greater rights and privileges than a domestic limited liability company. The registration shall not be deemed to authorize the foreign limited liability company to exercise any of its powers or conduct any business that a domestic limited liability company is not permitted by law to exercise or conduct in this state.
History of Section.
P.L. 1992, ch. 280, § 1.