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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>77266</law_id><section_number>13.1-1038.1</section_number><catch_line>Admission of members</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-1002</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="12">Virginia Limited Liability Company Act</unit><unit label="article" level="3" order_by="1" identifier="7">Rights of and Assignment by Members</unit></structure><text>
						<section id="A"><p><span class="prefix-number">A.</span> Subject to subsection B, a <span class="dictionary">person</span> may become a <span class="dictionary">member</span> in a <span class="dictionary">limited liability company</span>: <a id="paragraph-277151" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A"><i class="fa fa-link"/></a></p></section>
						<section id="A1" class="indent-1"><p><span class="prefix-number">1.</span> In the case of a <span class="dictionary">person</span> acquiring a <span class="dictionary">membership interest</span> directly from the <span class="dictionary">limited liability company</span>, upon compliance with an <span class="dictionary">operating agreement</span> or, if the <span class="dictionary">operating agreement</span> does not so provide, upon the consent of a majority of the <span class="dictionary"><span class="dictionary">managers</span></span> of a <span class="dictionary"><span class="dictionary">manager</span>-managed <span class="dictionary">limited liability company</span></span> or a majority vote of the <span class="dictionary">members</span> of a <span class="dictionary"><span class="dictionary">member</span>-managed <span class="dictionary">limited liability company</span></span>; <a id="paragraph-277152" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A1"><i class="fa fa-link"/></a></p></section>
						<section id="A2" class="indent-1"><p><span class="prefix-number">2.</span> In the case of an <span class="dictionary">assignee</span> of a <span class="dictionary">membership interest</span>, as provided in subsection A of &#xA7; <a class="law" title="Right of assignee to become member" href="/13.1-1040/">13.1-1040</a>; <a id="paragraph-277153" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A2"><i class="fa fa-link"/></a></p></section>
						<section id="A3" class="indent-1"><p><span class="prefix-number">3.</span> In the case of a <span class="dictionary">limited liability company</span> that has no <span class="dictionary">members</span> as of the commencement of its existence under &#xA7; <a class="law" title="Issuance of certificate by Commission; recordation of documents" href="/13.1-1004/">13.1-1004</a>, as provided in any writing signed by both the initial <span class="dictionary">member</span> or <span class="dictionary">members</span> and the <span class="dictionary"><span class="dictionary">managers</span></span>, if any are designated in the <span class="dictionary">articles of organization</span>, or, if no <span class="dictionary"><span class="dictionary">managers</span></span> are so designated, the organizers; <a id="paragraph-277154" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A3"><i class="fa fa-link"/></a></p></section>
						<section id="A4" class="indent-1"><p><span class="prefix-number">4.</span> In the case of a <span class="dictionary">limited liability company</span> the last remaining <span class="dictionary">member</span> of which has dissociated, (i) as provided in a writing executed by the successor in interest of that <span class="dictionary">member</span>, who may provide for the admission of the successor in interest or its nominee or designee to the <span class="dictionary">limited liability company</span> as a <span class="dictionary">member</span>, effective as of the occurrence of the event that caused the dissociation of the last remaining <span class="dictionary">member</span>, provided that the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span> may provide that the successor in interest of the last remaining <span class="dictionary">member</span> shall be obligated to agree in writing to the admission of the successor in interest of that <span class="dictionary">member</span> or its nominee or designee to the <span class="dictionary">limited liability company</span> as a <span class="dictionary">member</span>, effective as of the occurrence of the event that caused the dissociation of the last remaining <span class="dictionary">member</span>, or (ii) in the manner provided for in the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span>, effective as of the occurrence of the event that caused the dissociation of the last remaining <span class="dictionary">member</span>, pursuant to a provision of the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span> that specifically provides for the admission of a <span class="dictionary">member</span> to the <span class="dictionary">limited liability company</span> after there is no longer a remaining <span class="dictionary">member</span> of the <span class="dictionary">limited liability company</span>; <a id="paragraph-277155" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A4"><i class="fa fa-link"/></a></p></section>
						<section id="A5" class="indent-1"><p><span class="prefix-number">5.</span> In the case of a <span class="dictionary">person</span> being admitted as a <span class="dictionary">member</span> of a <span class="dictionary">limited liability company</span> pursuant to a merger approved in accordance with &#xA7; <a class="law" title="Action on a plan of merger" href="/13.1-1071/">13.1-1071</a>, as provided in the articles of merger or an <span class="dictionary">operating agreement</span> of the surviving <span class="dictionary">limited liability company</span>; and <a id="paragraph-277156" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A5"><i class="fa fa-link"/></a></p></section>
						<section id="A6" class="indent-1"><p><span class="prefix-number">6.</span> In the case of a <span class="dictionary">person</span> being admitted as a <span class="dictionary">member</span> of a <span class="dictionary">limited liability company</span> pursuant to a conversion or domestication of a partnership, <span class="dictionary">non-<span class="dictionary">United States</span> entity</span>, <span class="dictionary">foreign <span class="dictionary">limited liability company</span></span>, or corporation into a <span class="dictionary">domestic <span class="dictionary">limited liability company</span></span> in accordance with Article 12.2 (&#xA7; <a class="law" title="Definitions" href="/13.1-722.8/">13.1-722.8</a> et seq.) of Chapter 9 of this title, or, effective on and after November 1, 2006, Article 14 (&#xA7; <a class="law" title="Definitions" href="/13.1-1074/">13.1-1074</a> et seq.) of Chapter 12 of this title, as provided in the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span> of the converted or domesticated <span class="dictionary">limited liability company</span> at the time of conversion or domestication. <a id="paragraph-277157" class="section-permalink" href="https://vacode.org/13.1-1038.1/#A6"><i class="fa fa-link"/></a></p></section>
						<section id="B"><p><span class="prefix-number">B.</span> The effective time of admission of a <span class="dictionary">member</span> to a <span class="dictionary">limited liability company</span> shall be the later of: <a id="paragraph-277158" class="section-permalink" href="https://vacode.org/13.1-1038.1/#B"><i class="fa fa-link"/></a></p></section>
						<section id="B1" class="indent-1"><p><span class="prefix-number">1.</span> The date the <span class="dictionary">limited liability company</span> is formed; or <a id="paragraph-277159" class="section-permalink" href="https://vacode.org/13.1-1038.1/#B1"><i class="fa fa-link"/></a></p></section>
						<section id="B2" class="indent-1"><p><span class="prefix-number">2.</span> The time provided in an <span class="dictionary">operating agreement</span>, articles of merger or <span class="dictionary">articles of organization</span>, as applicable, or, if no such time is provided therein, then when the <span class="dictionary">person</span>&#x2019;s admission is reflected in the records of the <span class="dictionary">limited liability company</span>. <a id="paragraph-277160" class="section-permalink" href="https://vacode.org/13.1-1038.1/#B2"><i class="fa fa-link"/></a></p></section>
						<section id="C"><p><span class="prefix-number">C.</span> A <span class="dictionary">person</span> may be admitted to a <span class="dictionary">limited liability company</span> as a <span class="dictionary">member</span> of the <span class="dictionary">limited liability company</span> and may receive a <span class="dictionary">membership interest</span> in the <span class="dictionary">limited liability company</span> without making a <span class="dictionary">contribution</span> or being obligated to make a <span class="dictionary">contribution</span> to the <span class="dictionary">limited liability company</span>. Unless otherwise provided in the <span class="dictionary">articles of organization</span> or an <span class="dictionary">operating agreement</span>: <a id="paragraph-277161" class="section-permalink" href="https://vacode.org/13.1-1038.1/#C"><i class="fa fa-link"/></a></p></section>
						<section id="C1" class="indent-1"><p><span class="prefix-number">1.</span> A <span class="dictionary">person</span> may be admitted to a <span class="dictionary">limited liability company</span> as a <span class="dictionary">member</span> of the <span class="dictionary">limited liability company</span> without acquiring a <span class="dictionary">membership interest</span> in the <span class="dictionary">limited liability company</span>; and <a id="paragraph-277162" class="section-permalink" href="https://vacode.org/13.1-1038.1/#C1"><i class="fa fa-link"/></a></p></section>
						<section id="C2" class="indent-1"><p><span class="prefix-number">2.</span> A <span class="dictionary">person</span> may be admitted as the sole <span class="dictionary">member</span> of a <span class="dictionary">limited liability company</span> without making a <span class="dictionary">contribution</span> or being obligated to make a <span class="dictionary">contribution</span> to the <span class="dictionary">limited liability company</span> or without acquiring a <span class="dictionary">membership interest</span> in the <span class="dictionary">limited liability company</span>. <a id="paragraph-277163" class="section-permalink" href="https://vacode.org/13.1-1038.1/#C2"><i class="fa fa-link"/></a></p></section></text><history>1993, c. 113; 1997, c. 190; 2000, c. 581; 2001, c. 548; 2005, c. 255; 2006, cc. 748, 912; 2016, c. 288.</history><metadata></metadata></law>
