13.1-1026 - Business transactions of members or managers with the limited liability company. - Virginia Statutes

§ 13.1-1026. Business transactions of members or managers with the limitedliability 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 thelimited liability company and, subject to other applicable law, has the samerights and obligations with respect thereto as a person who is not a memberor manager.

(1991, c. 168.)