13.1-1036 - Liability upon wrongful distribution. - Virginia Statutes

§ 13.1-1036. Liability upon wrongful distribution.

If a member has received a distribution in violation of the articles oforganization or an operating agreement or in violation of § 13.1-1035 of thischapter, then the member is liable to the limited liability company for aperiod of two years thereafter for the amount of the distribution wrongfullymade.

(1991, c. 168; 2009, c. 763.)