                                 CODE OF VIRGINIA

RULES FOR APPLYING OTHER ARTICLES OF THIS CHAPTER TO SPECIFIED PROVISIONS OF
THIS ARTICLE (§ 13.1-1094)

A. Except as otherwise provided in subsection B and § 13.1-1093, the following
rules apply in applying § 13.1-1092, subsections C and F of § 13.1-1099.5,
subdivision 4 a of § 13.1-1099.11, subsection A of § 13.1-1099.12, and
subdivision 2 of § 13.1-1099.13:

   1. A protected series of a series limited liability company is deemed to be a
   limited liability company that is organized separately from the series limited
   liability company and distinct from the series limited liability company and
   any other protected series of the series limited liability company;

   2. An associated member of the protected series is deemed to be a member of
   the series limited liability company;

   3. A protected series assignee of the protected series is deemed to be an
   assignee of the series limited liability company;

   4. A protected series membership interest of the protected series is deemed to
   be a membership interest of the series limited liability company;

   5. A protected series manager is deemed to be a manager of the series limited
   liability company;

   6. An asset of the protected series is deemed to be an asset of the series
   limited liability company, whether or not the asset is an associated asset of
   the protected series; and

   7. Any creditor or other obligee of the protected series is deemed to be a
   creditor or obligee of the series limited liability company.

B. Subsection A does not apply if its application would:

   1. Vary &#xA7; 13.1-1023, subsection B or C of &#xA7; 13.1-1092, or &#xA7;
   13.1-1093; or

   2. Require the Commission to:
   				a. Accept for filing a type of record that this chapter expressly does not
   authorize or require a person to deliver to the Commission for filing; or
   				b. Make or deliver a record that neither this article nor any other
   provision of this chapter authorizes or requires the Commission to make or
   deliver.

HISTORY: 2019, c. 636.