                                 CODE OF VIRGINIA

APPLICABILITY OF CHAPTER TO FOREIGN AND INTERSTATE COMMERCE (§ 50-73.141)

A. A registered limited liability partnership may conduct its business, carry on
its operations, and have and exercise the powers granted by this chapter in any
state, territory, district, or possession of the United States or in any foreign
country.

B. It is the policy of this Commonwealth that registered limited liability
partnerships formed pursuant to agreements governed by the laws of this
Commonwealth be recognized outside this Commonwealth and that the laws of this
Commonwealth governing registered limited liability partnerships transacting
business outside this Commonwealth be granted the protection of full faith and
credit under the Constitution of the United States.

C. It is the policy of this Commonwealth that in the case of a registered
limited liability partnership the relations among the partners and between the
partners and the partnership, and the liability of partners for debts,
obligations and liabilities chargeable to the partnership, shall be subject to
and governed by the laws of this Commonwealth.

D. Subject to any statutes for the regulation and control of specific types of
business, foreign registered limited liability partnerships may do business in
this Commonwealth.

E. It is the policy of this Commonwealth that in the case of a foreign
registered limited liability partnership (whether or not registered under &#xA7;
50-73.140) the relations among the partners and between the partners and the
partnership, and the liability of partners for debts, obligations and
liabilities chargeable to the partnership, shall be subject to and governed by
the laws of the jurisdiction that govern the agreement under which it was
formed.

HISTORY: 1996, c. 292.