{"data":{"id":"us-wv/w.-va.-code-31b-14-102","jurisdiction":"us-wv","citation":"W. Va. Code § 31B-14-102","heading":"Definitions.","body":"In this chapter:\n\"Asset\" means property in which a series limited liability company or protected series has rights; or as to which the company or protected series has the power to transfer rights.\n\"Associated asset\" means an asset that meets the requirements of §31B-14-301 of this code.\n\"Associated member\" means a member that meets the requirements of §31B-14-302.\n\"Foreign protected series\" means an arrangement, configuration, or other structure established by a foreign limited liability company which has attributes comparable to a protected series established under this chapter. The term applies whether or not the law under which the foreign company is organized refers to \"protected series\".\n\"Foreign series limited liability company\" means a foreign limited liability company that has at least one foreign protected series.\n\"Jurisdiction of formation\" means the jurisdiction whose law governs the internal affairs of an entity.\n\"Non-associated asset\" means:\nAn asset of a series limited liability company which is not an associated asset of the company; or an asset of a protected series of the company which is not an associated asset of the protected series.\n\"Person\" includes a protected series.\n\"Protected series\", except in the phrase \"foreign protected series\", means a protected series established under §31B-14-201.\n\"Protected-series manager\" means a person under whose authority the powers of a protected series are exercised and under whose direction the activities and affairs of the protected series are managed under the operating agreement and this chapter.\n\"Protected-series distributional interest\" means a right to receive a distribution from a protected series.\n\"Protected-series transferee\" means a person to which all or part of a protected-series distributional interest of a protected series of a series limited liability company has been transferred, other than the company. The term includes a person that owns a protected-series distributional interest as a result of ceasing to be an associated member of a protected series.\n\"Series limited liability company\" or “company”, except in the phrase \"foreign series limited liability company\", means a limited liability company that has at least one protected series.","path":["CHAPTER 31B. UNIFORM LIMITED LIABILITY COMPANY ACT.","ARTICLE 14. UNIFORM PROTECTED SERIES ACT."],"source_url":"https://code.wvlegislature.gov/31B-14-102/","current_through":"as of 2026-08-03; contains at least the enactments of the 2026 Regular Session","vintage":"","retrieved_at":"2026-09-06T00:28:01Z","sha256":"401678b4c0d35ea8a1d72dcb03679216e1cd4447fa53a3c4650d7ccdfad29ddd","source_id":"us-wv","stale":true,"prev":"us-wv/w.-va.-code-31b-14-101","next":"us-wv/w.-va.-code-31b-14-103"},"notice":"GroundRules: Original legal text. Not legal advice."}