(a) The law of the jurisdiction of formation of an entity shall govern the:
(1) Internal affairs of the entity;
(2) Liability that a person has as an interest holder or governor for a debt, obligation, or other liability of the entity;
(3) Liability of a series of a series limited liability company; and
(4) Liability of a series of a statutory trust.
(b) A foreign entity shall not be precluded from registering to do business in the District because of any difference between the laws of the entity’s jurisdiction of formation and the laws of the District.
(c) Registration of a foreign entity to do business in the District shall not authorize it to engage in any activity or exercise any power that a domestic entity of the same type may not engage in or exercise in the District.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Section ReferencesThis section is referenced in § 29-105.02 and § 29-601.04.