                                 CODE OF VIRGINIA

DEFINITIONS (§ 50-73.79)

In this chapter:		&#8220;Business&#8221; includes every trade, occupation, and
profession.		&#8220;Commission&#8221; means the State Corporation Commission of
Virginia.		&#8220;Debtor in bankruptcy&#8221; means a person who is the subject
of:

i. an order for relief under Title 11 of the United States Code or a comparable
order under a successor statute of general application; or

   ii. a comparable order under federal, state, or foreign law governing
   insolvency.
   				&#8220;Distribution&#8221; means a transfer of money or other property
   from a partnership to a partner in the partner&#8217;s capacity as a partner
   or to the partner&#8217;s transferee.				&#8220;Foreign registered limited
   liability partnership&#8221; means a limited liability partnership or
   registered limited liability partnership, or the functional equivalent
   thereof, formed pursuant to an agreement governed by the laws of any state or
   jurisdiction other than this Commonwealth and registered as a limited
   liability partnership under the laws of that state or
   jurisdiction.				&#8220;Partnership&#8221; means an association of two or more
   persons to carry on as co-owners a business for profit formed under &#xA7;
   50-73.88, predecessor law, or comparable law of another jurisdiction, and
   includes, for all purposes of the laws of this Commonwealth, a registered
   limited liability partnership.				&#8220;Partnership agreement&#8221; means
   the agreement, whether written, oral, or implied, among the partners
   concerning the partnership, including amendments to the partnership
   agreement.				&#8220;Partnership at will&#8221; means a partnership in which
   the partners have not agreed to remain partners until the expiration of a
   definite term or the completion of a particular
   undertaking.				&#8220;Partnership interest&#8221; or &#8220;partner&#8217;s
   interest in the partnership&#8221; means all of a partner&#8217;s interests in
   the partnership, including the partner&#8217;s transferable interest and all
   management and other rights.				&#8220;Person&#8221; means an individual,
   corporation, business trust, estate, trust, partnership, limited liability
   company, association, joint venture, government, governmental subdivision,
   agency, or instrumentality, or any other legal or commercial
   entity.				&#8220;Principal office&#8221; means the office, in or out of the
   Commonwealth, where the chief executive offices of a domestic or foreign
   partnership or registered limited liability partnership are
   located.				&#8220;Property&#8221; means all property, real, personal, or
   mixed, tangible or intangible, or any interest therein.				&#8220;Registered
   limited liability partnership&#8221; means a partnership formed pursuant to an
   agreement governed by the laws of this Commonwealth and registered under
   &#xA7; 50-73.132.				&#8220;State&#8221; means a state of the United States,
   the District of Columbia, the Commonwealth of Puerto Rico, or any territory or
   insular possession subject to the jurisdiction of the United
   States.				&#8220;Statement&#8221; means a statement of partnership authority
   under &#xA7; 50-73.93, a statement of denial under &#xA7; 50-73.94, a
   statement of dissociation under &#xA7; 50-73.115, a statement of dissolution
   under &#xA7; 50-73.121, a statement of merger under &#xA7; 50-73.131, a
   statement of registration as a registered limited liability partnership under
   &#xA7; 50-73.132, a statement of registration as a foreign registered limited
   liability partnership under &#xA7; 50-73.138, an amendment or cancellation of
   any of the foregoing or a renewal of a statement of partnership
   authority.				&#8220;Transfer&#8221; includes an assignment, conveyance,
   lease, mortgage, deed, and encumbrance.

HISTORY: 1996, c. 292; 2003, c. 567; 2006, c. 912; 2007, c. 631.