SECTION 13.1-1093. (Effective July 1, 2021) Additional limitations on operating agreement  

A. An operating agreement shall not vary the effect of:

1. This section;

2. Section 13.1-1089 ;

3. Subsection A of § 13.1-1089 ;

4. Subsection B of § 13.1-1089 to provide a protected series a power in addition to the powers provided to a limited liability company under the other articles of this chapter;

5. The limitations stated in subsection C or D of § 13.1-1089 ;

6. Section 13.1-1089 ;

7. Section 13.1-1089 ;

8. Section 13.1-1089 ;

9. Section 13.1-1089 , except to vary the manner in which a limited liability company approves establishing a protected series;

10. Section 13.1-1089 ;

11. Section 13.1-1089 ;

12. Section 13.1-1089 ;

13. Subsection A or B of § 13.1-1089 ;

14. Subsection C, F, or G of § 13.1-1089 ;

15. Section 13.1-1089 , except to decrease or eliminate a limitation of liability stated in § 13.1-1089 ;

16. Section 13.1-1089 ;

17. Section 13.1-1089 ;

18. Section 13.1-1089 ;

19. Subdivisions 1, 4, and 5 of § 13.1-1089 ;

20. Section 13.1-1089 , except to designate a different person to manage winding up;

21. Section 13.1-1089 ;

22. Sections 13.1-1089 through 13.1-1089 ;

23. Sections 13.1-1089 , 13.1-1089 , and 13.1-1089 ;

24. Sections 13.1-1089 and 13.1-1089 ; or

25. A provision of this article pertaining to:

a. A registered office or registered agent; or

b. The Commission, including provisions pertaining to records authorized or required to be delivered to the Commission for filing under this article or chapter.

B. An operating agreement shall not unreasonably restrict the duties and rights under § 13.1-1089 but may impose reasonable restrictions on the availability and use of information obtained under § 13.1-1089 and may provide appropriate remedies, including liquidated damages, for a breach of any reasonable restriction on use.

2019, c. 13.1-1089 .