1. A. Subject to the Constitution of this state:

   1. 1. The laws of the state or other jurisdiction under which a foreign limited liability company is organized shall govern its organization and internal affairs and the liability of its managers and members; and
   2. 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.
2. B. A foreign limited liability company holding a valid registration in this state shall have 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 purposes that a domestic limited liability company is forbidden by law to exercise in this state.

Laws 1992, SB 456, c. 148, § 43, eff. September 1, 1992.