§ 13.1-1099.13 Waiver of cancellation upon dissolution; reinstatement of series limited liability company
A. If after dissolution the members of a series limited liability company waive the right to have the series limited liability company’s affairs wound up and its existence canceled:
1. Each protected series of the series limited liability company ceases winding up; and
2. The provisions of § 13.1-1047.1 stating the results of the waiver apply to each protected series of the series limited liability company in accord with § 13.1-1094.
B. A protected series that has ceased to exist may have its existence reinstated in accordance with § 13.1-1050.4 as if it were a limited liability company, provided that the series limited liability company that established the protected series is in existence.
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.