CODE OF VIRGINIA

NATURE OF INTEREST IN LIMITED LIABILITY COMPANY (§ 13.1-1038)

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.

HISTORY: 1991, c. 168; 2006, c. 912.