Va. Code Ann. § 13.1-1099.15 – Restrictions on entity transaction involving a series limited liability company or a foreign series limited liability company | Midpage
§ 13.1-1099.15
Va. Code Ann. § 13.1-1099.15
Restrictions on entity transaction involving a series limited liability company or a foreign series limited liability company
Effective Jul 1, 20192019, c. 636.
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.).