50-73.78 - Limited partnership as registered limited liability partnership. - Virginia Statutes

§ 50-73.78. Limited partnership as registered limited liability partnership.

A. A limited partnership is a registered limited liability partnership aswell as a limited partnership if it:

1. Registers as a limited liability partnership as provided in § 50-73.132 ofthe Virginia Uniform Partnership Act Chapter 2.2 (§ 50-73.79 et seq.), aspermitted by its written partnership agreement or, if its written partnershipagreement is silent, with the consent of partners required to amend itswritten partnership agreement; provided that, notwithstanding the provisionsof subsection C of § 50-73.83, a statement of registration as a limitedliability partnership filed by a limited partnership shall be executed by anyone or more authorized general partners; and

2. Has a name that either: (i) complies with the requirements of clause (i)of subdivision 1 of § 50-73.2 and subsection A of § 50-73.133 or (ii)contains the words "Registered Limited Liability Limited Partnership" or"Limited Liability Limited Partnership" or the abbreviation "R.L.L.L.P."or "L.L.L.P." or the designation "RLLLP" or "LLLP."

B. In applying § 50-73.132 to a limited partnership, all references topartners mean general partners.

C. If a limited partnership is a registered limited liability partnership, §50-73.96 applies to its general partners and to any of its limited partnerswho, under other provisions of this chapter, are liable for the debts orobligations of the partnership.

D. If a limited partnership is a registered limited liability partnership,except to the extent that the provisions of this section and Article 9.1 (§50-73.132 et seq.) of Chapter 2.2 of this title make a distinction between adomestic partnership and a limited partnership, the provisions of Article 9.1(§ 50-73.132 et seq.) of Chapter 2.2 of this title shall apply to a limitedpartnership to the same extent that such provisions apply to a domesticpartnership that has registered for status as a registered limited liabilitypartnership.

(1995, c. 116; 1996, c. 292; 1998, c. 163; 2007, c. 631.)