                                 CODE OF VIRGINIA

PROTECTED SERIES DESIGNATION; AMENDMENT (§ 13.1-1095)

A. A limited liability company may establish a protected series. A proposal to
establish a protected series shall be approved by the affirmative vote or
consent of all members.

B. To establish a protected series, a limited liability company shall deliver to
the Commission for filing a statement of protected series designation setting
forth:

   1. The name of the limited liability company;

   2. The name of the protected series being established;

   3. The post office address of the principal office of the protected series;
   and

   4. A statement that the establishment of the protected series was approved by
   the affirmative vote or consent of all members of the limited liability
   company.

C. If the Commission finds that the statement of protected series designation
complies with the requirements of law and that all required fees have been paid,
it shall issue a certificate of protected series designation.

D. A series limited liability company may amend a statement of a protected
series designation that has not been canceled. For an amendment to a statement
of protected series designation to be adopted, the amendment shall be approved
by the affirmative vote or consent of all members.

E. To amend a statement of protected series designation, a series limited
liability company shall deliver to the Commission for filing a statement of
designation change setting forth:

   1. The name of the series limited liability company;

   2. The name of the protected series to which the designation change applies;

   3. The text of each change to the statement of protected series designation;
   and

   4. A statement that the amendment was approved by the affirmative vote or
   consent of all members of the series limited liability company.

F. If the Commission finds that the statement of protected series designation
change complies with the requirements of law and that all required fees have
been paid, it shall issue a certificate of designation change.

G. Notwithstanding subsection D, a series limited liability company may change
the address of the principal office of a protected series of the series limited
liability company on the records of the Commission by filing a statement of
change pursuant to &#xA7; 13.1-1018.1, except that the statement of change shall
also set forth the name of the protected series and, in lieu of the address of
the current and new principal office of the series limited liability company,
the address of the current and new principal office of the protected series.

HISTORY: 2019, c. 636.