Virginia Code

Va. Code Ann. § 13.1-1031 (2026)

Interim distributions

✓ current as of May 2026

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Except as provided in this article, a member is entitled to receive distributions from a limited liability company before the dissolution and winding up thereof to the extent and at the times or upon the happening of the events specified in the articles of organization or an operating agreement.

1991, c. 168; 1996, c. 265.

Notes of Decisions

Cited in 3 cases (3 in the last 5 years), 2024–2024 · leading case: Danial Selario, etc. v. Cynthia Sullivan (Va. Ct. App. 2024).

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Danial Selario, etc. v. Cynthia Sullivan (Va. Ct. App. 2024). · cites it 4× “Code §§ 13.1-1031, -1035. For example, an LLC may not make a distribution that would render the LLC unable to pay its debts or would result in the LLC’s assets being worth less than its liabilities.”

Danette Mertz v. Cynthia Sullivan (Va. Ct. App. 2024). · cites it 4× “Code §§ 13.1-1031, -1035. For example, an LLC may not make a distribution that would render the LLC unable to pay its debts or would result in the LLC’s assets being worth less than its liabilities.”

Cynthia Sullivan v. Danial Selario, as Adm'r of the Est. of Christopher Selario, e (Va. Ct. App. 2024). · cites it 4× “Code §§ 13.1-1031, -1035. For example, an LLC may not make a distribution that would render the LLC unable to pay its debts or would result in the LLC’s assets being worth less than its liabilities.”

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