{"data":{"id":"us-va/va.-code-13.1-1099.4","jurisdiction":"us-va","citation":"Va. Code § 13.1-1099.4","heading":"Protected series membership interests","body":"A. A protected series membership interest of a protected series of a series limited liability company shall be owned initially by an associated member of the protected series or the series limited liability company.B. If a protected series of a series limited liability company has no associated members when established, the series limited liability company owns the protected series membership interests in the protected series.C. In addition to acquiring a protected series membership interest under subsection B, a series limited liability company may acquire a protected series membership interest through a transfer from another person or as provided in the operating agreement.D. Except for subdivision A 3 of § 13.1-1094, a provision of this article that applies to a protected series assignee of a protected series of a series limited liability company applies to the series limited liability company in its capacity as an owner of a protected series membership interest of the protected series. A provision of the operating agreement of a series limited liability company that applies to a protected series assignee of a protected series of the series limited liability company applies to the series limited liability company in its capacity as an owner of a protected series membership interest of the protected series.2019, c. 636.","path":["Title 13.1. Corporations","Chapter 12. Virginia Limited Liability Company Act","Article 16. Protected Series"],"source_url":"https://law.lis.virginia.gov/vacode/13.1-1099.4/","current_through":"9/4/2026","vintage":"","retrieved_at":"2026-09-04T15:14:14Z","sha256":"57fb940909aad579924beb1e4d1791808e197703193811294548e96f4f73e2d8","source_id":"us-va","stale":true,"prev":"us-va/va.-code-13.1-1099.3","next":"us-va/va.-code-13.1-1099.5"},"notice":"GroundRules: Original legal text. Not legal advice."}