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Virginia · Through 9/4/2026 · Newer source version available

Va. Code § 13.1-1036: Liability upon wrongful distribution

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Where this section sits in the code
  1. Title 13.1. CORPORATIONS
  2. Chapter 12. VIRGINIA LIMITED LIABILITY COMPANY ACT
  3. Article 6. FINANCE

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.1991, c. 168; 2009, c. 763.

Collected 2026-09-04T15:14:14Z. Source file · JSON

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