                                 CODE OF VIRGINIA

EVENTS CAUSING DISSOLUTION OF PROTECTED SERIES (§ 13.1-1099.11)

A protected series of a series limited liability company is dissolved, and its
activities and affairs shall be wound up, upon the:

1. Dissolution of the series limited liability company;

2. Occurrence of an event or circumstance the operating agreement states causes
dissolution of the protected series;

3. Affirmative vote or consent of all the members;

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 &#xA7; 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 &#xA7;&#xA7; 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 &#xA7;
13.1-1050.2 or 13.1-1050.3.

HISTORY: 2019, c. 636.