Va. Code § 13.1-1099.15

Current with changes from the 2024 legislative session through ch. 845

Section 13.1-1099.15 - Restrictions on entity transaction involving a series limited liability company or a foreign series limited liability company

A. A series limited liability company may not:

1. Convert to a different type of entity;

2. Domesticate as a foreign limited liability company pursuant to the provisions of Article 14 (§ 13.1-1074 et seq.); or

3. Except as otherwise provided in § 13.1-1099.16, be a party to or the surviving company of a merger.

B. A foreign series limited liability company may not domesticate as a Virginia limited liability company pursuant to the provisions of Article 14 (§ 13.1-1074 et seq.).

Va. Code § 13.1-1099.15

2019, c. 636.

Added by Acts 2019 c. 636, § 1, eff. 7/1/2020.