Virginia Code 3.2-5218: Definitions.
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As used in this article, unless the context requires a different meaning:
Terms Used In Virginia Code 3.2-5218
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
“Holder” means a corporation, association, partnership or two or more persons having a joint or common interest.
Code 1950, § 3-415; 1966, c. 702, § 3.1-545; 2008, c. 860.