Protected series may not be party to entity transaction
Known as the Virginia Limited Liability Company Act
The act spans §§ 13.1-1000 to 13.1-1099.9 (156 sections).
2019, c. 636; 2021, Sp
A protected series may not:
1. Be a party to a merger;
2. Convert to a different type of entity;
3. Domesticate as a protected series under the laws of a foreign jurisdiction; or
4. Be a party to or be formed, organized, established, or created in a transaction substantially like an interest exchange, a conversion, or a domestication.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.