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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>79485</law_id><section_number>13.1-1264</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-1002</reference><reference>13.1-1082</reference><reference>13.1-1201</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="14">Virginia Business Trust Act</unit><unit label="article" level="3" order_by="1" identifier="12">Domestication and Conversion</unit></structure><text>
						<section><p>As used in this article, unless the context requires a different meaning:
		&#x201C;Articles of organization&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-1002/">13.1-1002</a>.
		&#x201C;<span class="dictionary">Converting entity</span>&#x201D; means the domestic or <span class="dictionary">foreign business trust</span>, corporation, limited liability company, limited partnership, partnership, or <span class="dictionary">other entity</span> that adopts a plan of <span class="dictionary">domestication</span> or plan of <span class="dictionary">entity conversion</span> pursuant to this article.
		&#x201C;Corporation&#x201D; and &#x201C;<span class="dictionary">domestic corporation</span>&#x201D; have the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-603/">13.1-603</a>.
		&#x201C;<span class="dictionary">Domesticated business trust</span>&#x201D; means the <span class="dictionary">domesticating business trust</span> as it continues in existence after a <span class="dictionary">domestication</span>.
		&#x201C;<span class="dictionary">Domesticating business trust</span>&#x201D; means the <span class="dictionary">domestic business trust</span> that approves a plan of <span class="dictionary">domestication</span> pursuant to &#xA7;&#xA0;<a class="law" title="Action on plan of domestication by a domestic business trust" href="/13.1-1267/">13.1-1267</a> or the <span class="dictionary">foreign business trust</span> that approves a <span class="dictionary">domestication</span> pursuant to the <span class="dictionary">organic law</span> of the <span class="dictionary">foreign business trust</span>.
		&#x201C;<span class="dictionary">Domestication</span>&#x201D; means a transaction pursuant to this article, including <span class="dictionary">domestication</span> of a <span class="dictionary">foreign business trust</span> as a <span class="dictionary">domestic business trust</span> or <span class="dictionary">domestication</span> of a <span class="dictionary">domestic business trust</span> in another <span class="dictionary">jurisdiction</span>, where the other <span class="dictionary">jurisdiction</span> authorizes such a transaction even if by another name.
		&#x201C;<span class="dictionary">Domestic entity</span>&#x201D; means a <span class="dictionary">domestic corporation</span>, limited liability company, limited partnership, partnership, or <span class="dictionary">other entity</span>.
		&#x201C;<span class="dictionary">Foreign corporation</span>&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-603/">13.1-603</a>.
		&#x201C;<span class="dictionary">Foreign entity</span>&#x201D; means a <span class="dictionary">foreign business trust</span>, corporation, limited liability company, limited partnership, partnership, or <span class="dictionary">other entity</span>.
		&#x201C;<span class="dictionary">Foreign limited liability company</span>&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-1002/">13.1-1002</a>.
		&#x201C;<span class="dictionary">Foreign limited partnership</span>&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/50-73.1/">50-73.1</a>.
		&#x201C;Foreign partnership&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-1002/">13.1-1002</a>.
		&#x201C;Limited liability company&#x201D; and &#x201C;domestic limited liability company&#x201D; have the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-1002/">13.1-1002</a>.
		&#x201C;Limited partnership&#x201D; and &#x201C;<span class="dictionary">domestic limited partnership</span>&#x201D; have the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/50-73.1/">50-73.1</a>.
		&#x201C;Member&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-1002/">13.1-1002</a>.
		&#x201C;Membership interest&#x201D; or &#x201C;interest&#x201D; has the same meaning specified in &#xA7;&#xA0;<a class="law" title="Definitions" href="/13.1-1002/">13.1-1002</a>.
		&#x201C;<span class="dictionary">Other entity</span>&#x201D; means a domestic real estate investment trust or <span class="dictionary">common law</span> trust.
		&#x201C;Partnership&#x201D; and &#x201C;<span class="dictionary">domestic partnership</span>&#x201D; mean an association of two or more <span class="dictionary">persons</span> to carry on as co-owners a business for profit formed under &#xA7;&#xA0;<a class="law" title="Formation of partnership" href="/50-73.88/">50-73.88</a>, or predecessor law of this Commonwealth, and includes, for all purposes of the <span class="dictionary">laws</span> of this Commonwealth, a <span class="dictionary">registered limited liability partnership</span>.
		&#x201C;<span class="dictionary">Resulting entity</span>&#x201D; means the domestic limited liability company or business trust that is in existence upon consummation of an <span class="dictionary">entity conversion</span> pursuant to this article.
		&#x201C;<span class="dictionary">Surviving entity</span>&#x201D; means the <span class="dictionary">domestic business trust</span> that is in existence upon consummation of a <span class="dictionary">domestication</span> pursuant to this article.</p></section></text><history>2002, c. 621; 2016, c. 288; 2021, Sp. Sess. I, c. 487.</history><metadata></metadata></law>
