Virginia § 13.1-1090 Powers and duration of protected series

Virginia Statutes

§ 13.1-1090 — Powers and duration of protected series

Virginia § 13.1-1090

Title 13.1Corporations

Ch. 12Virginia Limited Liability Company Act

Art. 16Protected Series

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Bluebook

Va. Code Ann. § 13.1-1090 (2026).

Text

A.A protected series of a series limited liability company has the capacity to sue and be sued in its own name.

B.Except as otherwise provided in subsections C and D, a protected series of a series limited liability company has the same powers and purpose as the series limited liability company.

C.A protected series of a series limited liability company ceases to exist not later than when the series limited liability company ceases to exist.

D.A protected series of a series limited liability company shall not:

1.Be a member of the series limited liability company;

2.Establish a protected series; or

3.Except as permitted by a law of the Commonwealth other than this article, have any purpose or power that the law of the Commonwealth other than this article prohibits a limited li

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A. A protected series of a series limited liability company has the capacity to sue and be sued in its own name.

B. Except as otherwise provided in subsections C and D, a protected series of a series limited liability company has the same powers and purpose as the series limited liability company.

C. A protected series of a series limited liability company ceases to exist not later than when the series limited liability company ceases to exist.

D. A protected series of a series limited liability company shall not:

1. Be a member of the series limited liability company;

2. Establish a protected series; or

3. Except as permitted by a law of the Commonwealth other than this article, have any purpose or power that the law of the Commonwealth other than this article prohibits a limited liability company from doing or having.