CODE OF VIRGINIA

BUSINESS TRANSACTIONS OF MEMBERS OR MANAGERS WITH THE LIMITED LIABILITY COMPANY
(§ 13.1-1026)

Except as provided in the articles of organization or an operating agreement, a
member or manager may lend money to and transact other business with the limited
liability company and, subject to other applicable law, has the same rights and
obligations with respect thereto as a person who is not a member or manager.

HISTORY: 1991, c. 168.