Code of Virginia § 13.1-1038. Nature of interest in limited liability company.
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/va/title-13-1/chapter-12/13-1-1038·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A membership interest in a limited liability company is personal property. The only transferable interest of a member in the limited liability company is the member's share of the profits and losses of the limited liability company and the member's right to receive distributions.
1991, c. 168; 2006, c. 912 .