                                 CODE OF VIRGINIA

TRANSACTIONS NOT CONSTITUTING TRANSACTING BUSINESS (§ 50-73.61)

A. The following activities, among others, do not constitute transacting
business within the meaning of this article:

   1. Maintaining, defending, or settling any proceeding;

   2. Holding meetings of its partners or carrying on any other activities
   concerning its internal affairs;

   3. Maintaining bank accounts;

   4. Maintaining offices or agencies for the transfer, exchange and registration
   of the partnership&#8217;s securities or maintaining trustees or depositaries
   with respect to those securities;

   5. Selling through independent contractors;

   6. Soliciting or obtaining orders, whether by mail or through employees or
   agents or otherwise, if the orders require acceptance outside this
   Commonwealth before they become contracts;

   7. Creating or acquiring indebtedness, deeds of trust, and security interests
   in real or personal property;

   8. Securing or collecting debts or enforcing deeds of trust and security
   interests in property securing the debts;

   9. Owning, without more, personal property;

   10. Conducting an isolated transaction that is completed within thirty days
   and that is not one in the course of repeated transactions of a like nature;

   11. For a period of less than ninety consecutive days, producing, directing,
   filming, crewing or acting in motion picture feature films, television series
   or commercials, or promotional films which are sent outside of the
   Commonwealth for processing, editing, marketing and distribution; or

   12. Serving, without more, as a general partner of, or as a partner in a
   partnership which is a general partner of, a domestic or foreign limited
   partnership which does not otherwise transact business in this Commonwealth.

B. The term &#8220;transacting business&#8221; as used in this section shall
have no effect on personal jurisdiction under &#xA7; 8.01-328.1.

C. The list of activities in subsection A of this section is not exhaustive.
This section does not apply in determining the contracts or activities which may
subject a foreign limited partnership to service of process or taxation in this
Commonwealth or to regulation under any other law of this Commonwealth.

HISTORY: 1985, c. 607; 1987, c. 305; 1990, c. 343.