Every limited liability company formed under this chapter has the purpose of engaging in any lawful business, purpose, or activity, whether or not such business, purpose, or activity is carried on for profit, except as otherwise provided by the law of this Commonwealth, unless a more limited purpose is set forth in the articles of organization.
Va. Code Ann. § 13.1-1008
Purposes
Known as the Virginia Limited Liability Company Act
The act spans §§ 13.1-1000 to 13.1-1099.9 (156 sections).
1991, c. 168; 1992, c. 574; 2002, c. 288; 2004, c. 601.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.