                                 CODE OF VIRGINIA

ADDITIONAL LIMITATIONS ON OPERATING AGREEMENT (§ 13.1-1093)

A. An operating agreement shall not vary the effect of:

   1. This section;

   2. Section 13.1-1089;

   3. Subsection A of &#xA7; 13.1-1090;

   4. Subsection B of &#xA7; 13.1-1090 to provide a protected series a power in
   addition to the powers provided to a limited liability company under the other
   articles of this chapter;

   5. The limitations stated in subsection C or D of &#xA7; 13.1-1090;

   6. Section 13.1-1091;

   7. Section 13.1-1092;

   8. Section 13.1-1094;

   9. Section 13.1-1095, except to vary the manner in which a limited liability
   company approves establishing a protected series;

   10. Section 13.1-1096;

   11. Section 13.1-1099.2;

   12. Section 13.1-1099.3;

   13. Subsection A or B of &#xA7; 13.1-1099.4;

   14. Subsection C, F, or G of &#xA7; 13.1-1099.5;

   15. Section 13.1-1099.7, except to decrease or eliminate a limitation of
   liability stated in &#xA7; 13.1-1099.7;

   16. Section 13.1-1099.8;

   17. Section 13.1-1099.9;

   18. Section 13.1-1099.10;

   19. Subdivisions 1, 4, and 5 of &#xA7; 13.1-1099.11;

   20. Section 13.1-1099.12, except to designate a different person to manage
   winding up;

   21. Section 13.1-1099.13;

   22. Sections 13.1-1099.14 through 13.1-1099.20;

   23. Sections 13.1-1099.21, 13.1-1099.22, and 13.1-1099.23;

   24. Sections 13.1-1099.25 and 13.1-1099.26; or

   25. A provision of this article pertaining to:
   				a. A registered office or registered agent; or
   				b. The Commission, including provisions pertaining to records authorized
   or required to be delivered to the Commission for filing under this article or
   chapter.

B. An operating agreement shall not unreasonably restrict the duties and rights
under &#xA7; 13.1-1099.6 but may impose reasonable restrictions on the
availability and use of information obtained under &#xA7; 13.1-1099.6 and may
provide appropriate remedies, including liquidated damages, for a breach of any
reasonable restriction on use.

HISTORY: 2019, c. 636.