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2013 SESSION

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HB 1748 Limited liability companies; updates Virginia Limited Liability Company Act, technical amendments.

Introduced by: John A. Cosgrove-resigned 8/16 | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Limited liability companies. Updates the Virginia Limited Liability Company Act to (i) provide a single standard for the execution by foreign limited liability companies of documents; (ii) provide for the perpetual existence of a Virginia limited liability company, which will be presumed unless a specified period of duration is set forth in the articles of organization; (iii) provide a requirement for the inclusion of an identification number in certain documents; and (iv) align annual registration fee assessment and domestication provisions with similar provisions applicable to other business entities. The measure also includes technical amendments.


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