                                 CODE OF VIRGINIA

PENALTY FOR FAILURE TO TIMELY PAY ANNUAL REGISTRATION FEES (§ 13.1-1064)

A. Any domestic or foreign limited liability company, or any protected series
thereof, that fails to pay the annual registration fee into the state treasury
within the time prescribed in &#xA7; 13.1-1062 shall incur a penalty of $25,
which shall be added to the amount of the annual registration fee due. The
penalty prescribed herein shall be in addition to any other penalty or liability
imposed by law.

B. The Commission shall mail to each domestic and foreign limited liability
company that fails to pay the annual registration fee within the time prescribed
in &#xA7; 13.1-1062 a notice of assessment of the penalty imposed herein and of
the impending cancellation of its existence or certificate of registration, as
the case may be.

C. The Commission shall mail to each protected series and each foreign protected
series that fails to pay the annual registration fee within the time prescribed
in &#xA7; 13.1-1062 a notice of assessment of the penalty imposed herein and of
its impending cancellation or the impending cancellation of its certificate of
registration, as the case may be.

HISTORY: 1991, c. 168; 1997, c. 190; 2000, c. 52; 2004, cc. 274, 601; 2005, c.
255; 2008, c. 108; 2019, c. 636.