Virginia Statutes
§ 13.1-1038 — Nature of interest in limited liability company
Virginia § 13.1-1038
JurisdictionVirginia
Title 13.1CORPORATIONS
Ch. 12VIRGINIA LIMITED LIABILITY COMPANY ACT
Art. 7RIGHTS OF AND ASSIGNMENT BY MEMBERS
This text of Virginia § 13.1-1038 (Nature of interest in limited liability company) is published on Counsel Stack Legal Research, covering Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Va. Code Ann. § 13.1-1038 (2026).
Text
A membership interest in a limited liability company is personal property. The only transferable interest of a member in the limited liability company is the member's share of the profits and losses of the limited liability company and the member's right to receive distributions.
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Legislative History
1991, c. 168; 2006, c. 912.
Nearby Sections
15
§ 13.1-1
Repealed§ 13.1-1000
Short title§ 13.1-1001
Reservation of power to amend or repeal§ 13.1-1001.1
Construction§ 13.1-1002
Definitions§ 13.1-1003
Filing requirements§ 13.1-1005
Fees§ 13.1-1006
Penalty for signing false documents§ 13.1-1007
Unlawful to transact or offer to transact business as a limited liability company unless authorized§ 13.1-1008
Purposes§ 13.1-1009
Powers§ 13.1-1010
Organizers§ 13.1-1010.1
RepealedCite This Page — Counsel Stack
Bluebook (online)
Virginia § 13.1-1038, Counsel Stack Legal Research, https://law.counselstack.com/statute/va/13.1-1038.