                                 CODE OF VIRGINIA

ASSOCIATED MEMBERS (§ 13.1-1099.3)

A. Only a member of a series limited liability company may be an associated
member of a protected series of the series limited liability company.

B. A member of a series limited liability company becomes an associated member
of a protected series of the series limited liability company if the operating
agreement or a procedure established by the operating agreement states:

   1. That the member is an associated member of the protected series;

   2. The date on which the member became an associated member; and

   3. Any protected series membership interest the associated member has in
   connection with becoming or being an associated member.

C. If a person that is an associated member of a protected series of a series
limited liability company is dissociated from the series limited liability
company, the person ceases to be an associated member of the protected series.

HISTORY: 2019, c. 636.