§ 13.1-1026 Business transactions of members or managers with the limited liability company
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
This law was first created in 1991. The record of its establishment is cataloged in chapter 168 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. Unfortunately, the 1991 “Acts” aren’t available online.
1991, c. 168.