§ 13.1-1118. Management
Unless the articles of organization or an operating agreement provides for management of a professional limited liability company by a manager or managers, management of a professional limited liability company shall be vested in its members. If the articles of organization or an operating agreement provides for management of a professional limited liability company by a manager or managers, the manager shall be an individual or professional business entity duly licensed or otherwise legally authorized to render the same professional services within this Commonwealth that the professional limited liability company was organized for the purpose of rendering. Only members or managers duly licensed or otherwise legally authorized to render the same professional services within this Commonwealth shall supervise and direct the provision of professional services within this Commonwealth, or delegate to their agents, officers, and employees or delegate by a management agreement or another agreement with, or otherwise to, other persons managerial duties and tasks related to the professional limited liability company's operations.
(1992, c. 574; 2007, c. 629.)
Sections: Previous 13.1-1109 13.1-1110 13.1-1111 13.1-1112 13.1-1113 13.1-1114 13.1-1115 13.1-1116 13.1-1117 13.1-1118 13.1-1119 13.1-1120 13.1-1121 13.1-1122 13.1-1123 NextLast modified: April 2, 2009