Nature of interest in limited liability company

Va. Code Ann. § 13.1-1038
in effect
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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 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/13.1-1038/Fetched: 10/16/2026

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