                                 CODE OF VIRGINIA

WAIVER OF CANCELLATION UPON DISSOLUTION; REINSTATEMENT OF SERIES LIMITED
LIABILITY COMPANY (§ 13.1-1099.13)

A. If after dissolution the members of a series limited liability company waive
the right to have the series limited liability company&#8217;s affairs wound up
and its existence canceled:

   1. Each protected series of the series limited liability company ceases
   winding up; and

   2. The provisions of &#xA7; 13.1-1047.1 stating the results of the waiver
   apply to each protected series of the series limited liability company in
   accord with &#xA7; 13.1-1094.

B. A protected series that has ceased to exist may have its existence reinstated
in accordance with &#xA7; 13.1-1050.4 as if it were a limited liability company,
provided that the series limited liability company that established the
protected series is in existence.

HISTORY: 2019, c. 636.