- As used in this chapter, unless the context clearly requires otherwise:
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(1) “Certificate of limited partnership” means the certificate referred to in section 341 of this chapter, and the certificate as amended or restated.
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(2) “Contribution” means any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in his capacity as a partner.
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(3) “Event of withdrawal of a general partner” means an event that causes a person to cease to be a general partner as provided in section 392 of this chapter.
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(4) “Foreign limited partnership” means a partnership formed under the laws of any state other than the Virgin Islands and having as partners one or more general partners and one or more limited partners.
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(5) “General partner” means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner.
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(6) “Limited partner” means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement.
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(7) “Limited partnership” and “domestic limited partnership” mean a partnership formed by two or more persons under the laws of the Virgin Islands and having one or more general partners and one or more limited partners.
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(8) “Partner” means a limited or general partner.
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(9) “Partnership agreement” means any valid agreement, written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business.
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(10) “Partnership interest” means a partner’s share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets.
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(11) “Person” means a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, or corporation.
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(12) “State” means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.
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