Code of Virginia (Last Updated:July 28, 2020) |
TITLE 13.1. Corporations |
CHAPTER 12. Virginia Limited Liability Company Act |
ARTICLE 5. Relationship of Members to Each Other |
SECTION 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. |