13.1-1110 - Professional limited liability company not to engage in other business; investment of funds. - Virginia Statutes

§ 13.1-1110. Professional limited liability company not to engage in otherbusiness; investment of funds.

No professional limited liability company organized under this chapter mayengage in any business other than the rendering of the professional servicesfor which it was specifically organized; however, nothing in this chapter orin any other provisions of existing law applicable to limited liabilitycompanies shall be interpreted to prohibit that limited liability companyfrom investing its funds in real estate, mortgages, stocks, bonds or anyother type of investments, from owning real or personal property, or fromexercising any other investment power granted to limited liability companiesunder this title and not in conflict with the provisions of this chapter.

(1992, c. 574; 1996, c. 265.)