West Virginia § 40-1A-14 Application to and recognition of a foreign series organization

West Virginia Statutes

§ 40-1A-14 — Application to and recognition of a foreign series organization

West Virginia § 40-1A-14

Ch. 40ACTS VOID AS TO CREDITORS AND PURCHASERS

Art. 1AUNIFORM FRAUDULENT TRANSFERS ACT

This text of West Virginia § 40-1A-14 (Application to and recognition of a foreign series organization) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 40-1A-14 (2026).

Text

(a)In this section: “Protected series” means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics set forth in the definition of a series organization in §40-1A-14 of this code. “Series organization” means an organization that, pursuant to the law under which it is organized, has the following characteristics:

(A)The organic record of the organization provides for creation by the organization of one or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series.

(B)Debt incurred or existing with respe

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(a) In this section:

“Protected series” means an arrangement, however denominated, created by a series organization that, pursuant to the law under which the series organization is organized, has the characteristics set forth in the definition of a series organization in §40-1A-14 of this code.

“Series organization” means an organization that, pursuant to the law under which it is organized, has the following characteristics:

(A) The organic record of the organization provides for creation by the organization of one or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series.

(B) Debt incurred or existing with respect to the activities of, or property of or associated with, a particular protected series is enforceable against the property of or associated with the protected series only, and not against the property of or associated with the organization or other protected series of the organization.

(C) Debt incurred or existing with respect to the activities or property of the organization is enforceable against the property of the organization only, and not against the property of or associated with a protected series of the organization.

(b) A series organization and each protected series of the organization is a separate person for purposes of this article even if for other purposes a protected series is not a person separate from the organization or other protected series of the organization.

(c) A series organization includes a foreign series limited liability company, or one or more protected series thereof, which is organized as a series organization under the laws of another state or jurisdiction, and shall be recognized as a foreign series limited liability company in this state pursuant to, and in compliance with the provisions of §31B-10-1 et seq. of this code.