There is a newer version of the Code of Virginia
2011 Code of Virginia
Title 13.1 CORPORATIONS.
Chapter 12 Virginia Limited Liability Company Act (13.1-1000 thru 13.1-1080)
13.1-1038 Nature of interest in limited liability company
VA Code § 13.1-1038 (2001 through Reg Session) What's This?
13.1-1038. Nature of interest in limited liability company.
A membership interest in a limited liability company is personal property. The only transferable interest of a member in the limited liability company is the member's share of the profits and losses of the limited liability company and the member's right to receive distributions.
(1991, c. 168; 2006, c. 912.)
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