Virginia § 13.1-1026 - Business transactions of members or managers with the limited liability company
Full text of Virginia Code of Virginia § 13.1-1026 — Business transactions of members or managers with the limited liability company, with citation guidance and answers to common questions.
§ 13.1-1026. Business transactions of members or managers with the limited liability company
Except as provided in the articles of organization or an operating agreement, a member or manager may lend money to and transact other business with the limited liability company and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a member or manager.
1991, c. 168.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 13.1-1026
What does Code of Virginia § 13.1-1026 cover?
Section 13.1-1026 ("Business transactions of members or managers with the limited liability company") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 13.1-1026?
A common citation format is "Code of Virginia § 13.1-1026" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 13.1-1026 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.