574

(a) A limited partnership may become a limited liability limited partnership by:\n(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;\n(2) filing a statement of qualification, together with the fee of $150.00; and\n(3) complying with the name requirements of Title 26, chapter 1, section 222, Virgin Islands Code.\n(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.\n(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.\n(d) A limited liability limited partnership shall submit an annual report together with a fee of $150.00.