West Virginia Code § 47B-1-1

Definitions
Open in Lexace · Ask the AI about this section
In this chapter:
(1) "Business" includes every trade, occupation and profession.
(2) "Debtor in bankruptcy" means a person who is the subject of:
(i) In 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.
(3) "Deliver" or "delivery" means any method of delivery usetd in conventional commercial
practice, including, but not limited to, delivery by hand, mail, commercial delivery and
electronic transmission.
(4) "Distribution" means a transfer of money or other property from a partnership to a
partner in the partner's capacity as a partner or to the partner's transferee.
(5) "Electronic transmission" or "electronically transmitted", means any process of
communication not directly involving the physical transfer of paper that is suitable for the
retention, retrieval and reproduction of information by the recipient.
(6) "Foreign limited liability partnership" means a partnership or association formed under
or pursuant to an agreeLment governed by the laws of any state or jurisdiction other than this
state that is denominated as a registered limited liability partnership or limited liability
partnership under the laws of such other jurisdiction.
(7) "Partnership" means an association of two or more persons to carry on as coowners a
business for profit formed under section two, article two of this chapter, predecessor law, or
comWparable law of another jurisdiction and includes, for all purposes of the laws of this state,
a registered limited liability partnership.
(8) "Partnership agreement" means the agreement, whether written, oral or implied, among
the partners concerning the partnership, including amendments to the partnership
agreement.
(9) "Partnership at will" 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.
(10) "Partnership interest" or "partner's interest in the partnership" means all of a partner's
interests in the partnership, including the partner's transferable interest and all
management and other rights.
(11) "Person" means an individual, corporation, business trust, estate, trust, partnership,
limited liability company, professional limited liability company, association, joint venture,
government, governmental subdivision, agency or instrumentality, or any other legal or
commercial entity.
(12) "Property" means all property, real, personal or mixed, tangible or intangible, or any
interest therein. e
(13) "Registered limited liability partnership" means a partnership formed pursuant to an
agreement governed by the laws of this state, registered under section one, article ten of
this chapter. u
(14)"Sign" or "signature" includes, but is not limited to, any manual, facsimile, conformed or
electronic signature.
(15) "State" means a state of the United States, the District of Columbia, the Commonwealth
of Puerto Rico, or any territory or insular possessioln subject to the jurisdiction of the United
States. s
(16) "Statement" means a statement of paritnership authority under section three, article
three of this chapter, a statement of denial under section four of said article, a statement of
dissociation under section four, article seven of this chapter, a statement of dissolution
under section five, article eight of this chapter, a statement of merger under section seven,
article nine of this chapter, a statement of registration and a statement of withdrawal under
section one, article ten of this chapter, or an amendment or cancellation of any of the
foregoing.
(17) "Transfer" inclu des an assignment, conveyance, lease, mortgage, deed and
encumbranceV.

‹ Prev All West Virginia sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.