A. A protected series of a series limited liability company has the capacity to sue and be sued in its own name.\nB. Except as otherwise provided in subsections C and D, a protected series of a series limited liability company has the same powers and purpose as the series limited liability company.\nC. A protected series of a series limited liability company ceases to exist not later than when the series limited liability company ceases to exist.\nD. A protected series of a series limited liability company shall not:\n1. Be a member of the series limited liability company;\n2. Establish a protected series; or\n3. Except as permitted by a law of the Commonwealth other than this article, have any purpose or power that the law of the Commonwealth other than this article prohibits a limited liability company from doing or having.\n2019, c. 636.
Virginia Legal Code