Bill Text: VA SB779 | 2013 | Regular Session | Chaptered
Bill Title: Limited liability companies; assignment of interest.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2013-04-03 - Governor: Acts of Assembly Chapter text (CHAP0772) [SB779 Detail]
Download: Virginia-2013-SB779-Chaptered.html
Be it enacted by the General Assembly of Virginia: 1. That §13.1-1039 of the Code of Virginia is amended and reenacted as follows: §13.1-1039. Assignment of interest. A. Unless otherwise provided in the articles of organization
or an operating agreement, a membership interest in a limited liability company
is assignable in whole or in part. An assignment of an interest in a limited
liability company does not of itself dissolve the limited liability company. B. Unless otherwise provided in the articles of organization or an operating agreement, a membership interest in a limited liability company may be evidenced by a certificate of interest issued by the limited liability company. The articles of organization or an operating agreement may provide for the assignment or transfer of any interest represented by such a certificate and make other provisions with respect to such certificates. |