2006 Code of Virginia § 13.1-1062 - Annual registration fees to be paid by domestic and foreign limited liability companies

13.1-1062. Annual registration fees to be paid by domestic and foreignlimited liability companies.

A. Every domestic limited liability company, and every foreign limitedliability company registered to transact business in this Commonwealth, shallpay into the state treasury on or before October 1 in each year after thecalendar year in which it was formed or registered to transact business inthis Commonwealth an annual registration fee of $50; provided that theinitial annual registration fee to be paid by a domestic limited liabilitycompany created by conversion shall be due in the year after the calendaryear in which it converted.

B. The fees paid into the state treasury under this section and the feescollected under 13.1-1005 shall be set aside and paid into the special fundcreated under 13.1-775.1, and shall be used only by the Commission as itdeems necessary to defray the costs of the Commission and of the office ofthe clerk of the Commission in supervising, implementing, administering andenforcing the provisions of this chapter. The projected excess of feescollected over the costs of administration and enforcement so incurred shallbe paid into the general fund prior to the close of each fiscal year, basedon the unexpended balance of the special fund at the end of the prior fiscalyear. An adjustment of this transfer amount to reflect actual fees collectedshall occur during the first quarter of the succeeding fiscal year.

(1991, c. 168; 1995, c. 621; 2001, c. 545; 2002, c. 1; 2006, c. 748.)