{"data":{"id":"us-va/va.-code-13.1-1038","jurisdiction":"us-va","citation":"Va. Code § 13.1-1038","heading":"Nature of interest in limited liability company","body":"A membership interest in a limited liability company is personal property. The only transferable interest of a member in the limited liability company is the member's share of the profits and losses of the limited liability company and the member's right to receive distributions.1991, c. 168; 2006, c. 912.","path":["Title 13.1. CORPORATIONS","Chapter 12. VIRGINIA LIMITED LIABILITY COMPANY ACT","Article 7. RIGHTS OF AND ASSIGNMENT BY MEMBERS"],"source_url":"https://law.lis.virginia.gov/vacode/13.1-1038/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:14:14Z","sha256":"530b9747bf51430a6f6f031cc8177584331920c6cb4e6fefe0b2e9eb555a019e","source_id":"us-va","stale":true,"prev":"us-va/va.-code-13.1-1037","next":"us-va/va.-code-13.1-1038.1"},"notice":"GroundRules: Original legal text. Not legal advice."}