Code of Virginia § 13.1-1099.15. Restrictions on entity transaction involving a series limited liability company or a foreign series limited liability company.
87 words·~1 min read·
/va/title-13-1/chapter-12/13-1-1099-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A series limited liability company may not:
1. Convert to a different type of entity;
2. Domesticate as a foreign limited liability company pursuant to the provisions of Article 14 (§ 13.1-1074 et seq.); or
3. Except as otherwise provided in § 13.1-1099.16 , be a party to or the surviving company of a merger.
B. A foreign series limited liability company may not domesticate as a Virginia limited liability company pursuant to the provisions of Article 14 (§ 13.1-1074 et seq.).
2019, c. 636 .