Virginia § 13.1-1038 - Nature of interest in limited liability company
Full text of Virginia Code of Virginia § 13.1-1038 — Nature of interest in limited liability company, with citation guidance and answers to common questions.
§ 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.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 13.1-1038
What does Code of Virginia § 13.1-1038 cover?
Section 13.1-1038 ("Nature of interest in 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 § 13.1-1038?
A common citation format is "Code of Virginia § 13.1-1038" (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 § 13.1-1038 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.