Code of Virginia § 13.1-1036. Liability upon wrongful distribution.
59 words·~1 min read·
/va/title-13-1/chapter-12/13-1-1036·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If a member has received a distribution in violation of the articles of organization or an operating agreement or in violation of § 13.1-1035 of this chapter, then the member is liable to the limited liability company for a period of two years thereafter for the amount of the distribution wrongfully made.
1991, c. 168; 2009, c. 763 .