§ 13.1-1099.11 Events causing dissolution of protected series
A protected series of a series limited liability company is dissolved, and its activities and affairs shall be wound up, upon the:
2. Occurrence of an event or circumstance the operating agreement states causes dissolution of the protected series;
4. Entry of a court order dissolving the protected series on application by an associated member or protected series manager of the protected series: a. In accordance with § 13.1-1094; and b. To the same extent, in the same manner, and on the same grounds the court would enter an order dissolving a limited liability company on application by a member of or a person managing the limited liability company;
5. Entry by the court of an order dissolving the protected series on application by the series limited liability company or a member of the series limited liability company on the ground that the conduct of all or substantially all the activities and affairs of the protected series is illegal;
6. Automatic cancellation of its existence pursuant to §§ 13.1-1050.2 and 13.1-1099.1; or
7. Automatic or involuntary cancellation of the existence of the series limited liability company that established the protected series pursuant to § 13.1-1050.2 or 13.1-1050.3.
History
This law was first created in 2019. The record of its establishment is cataloged in chapter 636 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2019, c. 636.