Virginia Code 13.1-1089: Nature of protected series
Current as of: 2023 | Check for updates
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A protected series of a series limited liability company is a person distinct from:
Terms Used In Virginia Code 13.1-1089
- Assignee: means a person to which all or part of a membership interest has been transferred, whether or not the transferor is a member. See Virginia Code 13.1-1002
- Associated member: means , with respect to a protected series, a member that meets the requirements stated in § 13. See Virginia Code 13.1-1088
- interest: means a member's share of the profits and the losses of the limited liability company and the right to receive distributions of the limited liability company's assets. See Virginia Code 13.1-1002
- Member: means a person that has been admitted to membership in a limited liability company as provided in § 13. See Virginia Code 13.1-1002
- Person: includes a protected series. See Virginia Code 13.1-1002
1. The series limited liability company, subject to subsection C of § 13.1-1090, subdivision 1 of § 13.1-1099.11, and § 13.1-1099.12;
2. Another protected series of the series limited liability company;
3. A member of the series limited liability company, whether or not the member is an associated member of the protected series;
4. A protected series assignee of any protected series of the series limited liability company; and
5. An assignee of a membership interest of the series limited liability company.
2019, c. 636.