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.
Va. Code Ann. § 13.1-1036
Liability upon wrongful distribution
Known as the Virginia Limited Liability Company Act
The act spans §§ 13.1-1000 to 13.1-1099.9 (156 sections).
Applied in 1 court decision — leading case Pathak v. Trivedi (2003)
Most recently applied in Pathak v. Trivedi (November 2003)
1991, c. 168; 2009, c. 763.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.