13.1-1118 - Management. - Virginia Statutes

§ 13.1-1118. Management.

Unless the articles of organization or an operating agreement provides formanagement of a professional limited liability company by a manager ormanagers, management of a professional limited liability company shall bevested in its members. If the articles of organization or an operatingagreement provides for management of a professional limited liability companyby a manager or managers, the manager shall be an individual or professionalbusiness entity duly licensed or otherwise legally authorized to render thesame professional services within this Commonwealth that the professionallimited liability company was organized for the purpose of rendering. Onlymembers or managers duly licensed or otherwise legally authorized to renderthe same professional services within this Commonwealth shall supervise anddirect the provision of professional services within this Commonwealth, ordelegate to their agents, officers, and employees or delegate by a managementagreement or another agreement with, or otherwise to, other personsmanagerial duties and tasks related to the professional limited liabilitycompany's operations.

(1992, c. 574; 2007, c. 629.)