§ 13.1-1099.14 — Protected series may not be party to entity transaction

Virginia § 13.1-1099.14

• Jurisdiction: Virginia
• Title 13.1: Corporations
• Ch. 12: Virginia Limited Liability Company Act
• Art. 16: Protected Series

Text

A protected series may not:

1. Be a party to a merger;

2. Convert to a different type of entity;

3. Domesticate as a protected series under the laws of a foreign jurisdiction; or

4. Be a party to or be formed, organized, established, or created in a transaction substantially like an interest exchange, a conversion, or a domestication.

Legislative History

2019, c. 636; 2021, Sp. Sess. I, c. 487.