Regulatory AlertsPartnership Act (Revised 2020)
The Government of The Virgin Islands issued this revised edition of the Partnership Act to consolidate and declare the law governing partnerships as of January 1, 2020. The legislation defines partnership relationships, establishes rules for determining partnership existence, and outlines the mutual rights, duties, and liabilities of partners toward third parties and each other. It further regulates partnership property, dissolution procedures, and the winding up of partnership affairs while repealing numerous obsolete provisions.
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