Virginia § 13.1-1099.3 Associated members

Virginia Statutes

§ 13.1-1099.3 — Associated members

Virginia § 13.1-1099.3

Title 13.1Corporations

Ch. 12Virginia Limited Liability Company Act

Art. 16Protected Series

This text of Virginia § 13.1-1099.3 (Associated members) 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. § 13.1-1099.3 (2026).

Text

A.Only a member of a series limited liability company may be an associated member of a protected series of the series limited liability company.

B.A member of a series limited liability company becomes an associated member of a protected series of the series limited liability company if the operating agreement or a procedure established by the operating agreement states:

1.That the member is an associated member of the protected series;

2.The date on which the member became an associated member; and

3.Any protected series membership interest the associated member has in connection with becoming or being an associated member.

C.If a person that is an associated member of a protected series of a series limited liability company is dissociated from the series limited liability comp

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A. Only a member of a series limited liability company may be an associated member of a protected series of the series limited liability company.

B. A member of a series limited liability company becomes an associated member of a protected series of the series limited liability company if the operating agreement or a procedure established by the operating agreement states:

1. That the member is an associated member of the protected series;

2. The date on which the member became an associated member; and

3. Any protected series membership interest the associated member has in connection with becoming or being an associated member.

C. If a person that is an associated member of a protected series of a series limited liability company is dissociated from the series limited liability company, the person ceases to be an associated member of the protected series.