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(a) A limited partnership may become a limited liability limited partnership by:
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(1) obtaining approval of the terms and conditions of the limited partnership becoming a limited liability limited partnership by the vote necessary to amend the limited partnership agreement except, in the case of a limited partnership agreement that expressly considers contribution obligations, the vote necessary to amend those provisions;
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(2) filing a statement of qualification, together with the fee of $150.00; and
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(3) complying with the name requirements of Title 26, chapter 1, section 222, Virgin Islands Code.
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(b) A limited liability limited partnership continues to be the same entity that existed before the filing of a statement of qualification pursuant to Title 26, chapter 1, section 221, subsection (c), Virgin Islands Code.
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(c) Title 26, chapter 1, section 46, subsection (c) and section 47, subsection (f), Virgin Islands Code, apply to both general and limited partners of a limited liability limited partnership.
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(d) A limited liability limited partnership shall submit an annual report together with a fee of $150.00.