16-16-1403 - Activities not constituting transacting business.
16-16-1403. Activities not constituting transacting business.
(1) Activities of a foreign cooperative which do not constitute transacting business in thisstate under this part include:
(a) maintaining, defending, and settling an action or proceeding;
(b) holding meetings of the foreign cooperative's members or directors or carrying on anyother activity concerning the foreign cooperative's internal affairs;
(c) maintaining accounts in financial institutions;
(d) maintaining offices or agencies for the transfer, exchange, and registration of theforeign cooperative's own securities or maintaining trustees or depositories with respect to thosesecurities;
(e) selling through independent contractors;
(f) soliciting or obtaining orders, whether by mail or electronic means, throughemployees, agents, or otherwise, if the orders require acceptance outside this state before theybecome contracts;
(g) creating or acquiring indebtedness, mortgages, or security interests in real or personalproperty;
(h) securing or collecting debts or enforcing mortgages or other security interests inproperty securing the debts, and holding, protecting, and maintaining property so acquired;
(i) conducting an isolated transaction that is completed within 30 days and is not one inthe course of similar transactions; and
(j) transacting business in interstate commerce.
(2) For purposes of this part, the ownership in this state of income-producing realproperty or tangible personal property, other than property excluded under Subsection (1),constitutes transacting business in this state.
(3) This section does not apply in determining the contacts or activities that may subjecta foreign cooperative to service of process, taxation, or regulation under law of this state otherthan this chapter.
Enacted by Chapter 363, 2008 General Session