Judicial Dissolution of an LLC in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney

Ryan C. Young, Esq.
Judicial Dissolution of an LLC in Virginia | Ryan C. Young | Richmond, Virginia Business Attorney
What happens if LLC Members cannot agree?  In Virginia, a Limited Liability Company (LLC), may be dissolved for many reasons, but when there are irreconcilable differences between or amongst owners (members), judicial intervention may be the only remedy.  A member may, in accordance with the operating agreement and articles of incorporation, petition a court of competent jurisdiction for dissolution.  In... Read More

What are the reasons that an LLC may be dissolved in Virginia? | Ryan C. Young | Richmond, Virginia Business Attorney

Ryan C. Young, Esq.
What are the reasons that an LLC may be dissolved in Virginia? | Ryan C. Young | Richmond, Virginia Business Attorney
In Virginia, an LLC may be dissolved for many reasons both voluntary and involuntary. Businesses come and go in a healthy economy, and Virginia’s Legislative Code (§§ 13.1-1048 – 13.1-1050) has provisions to make the dissolution of a business a relatively easy process in most cases. In the most amicable of situations, an LLC is concluded upon the completion of... Read More

In Virginia, can an LLC member assign their interest in the LLC? | Ryan C. Young | Richmond Business Attorney

Ryan C. Young, Esq.
In Virginia, can an LLC member assign their interest in the LLC? | Ryan C. Young | Richmond Business Attorney
Assignment of Interest in a Virginia LLC. A Limited Liability Company is governed by both a) the laws of the state in which it was incorporated and b) the operating agreement of the LLC.  There are some state laws which an operating agreement can circumvent.  Plainly speaking, in some instances the members of the LLC can decide the rules which... Read More