Laurence V. Parker
Over the past two years, there have been a number of legislative changes to Virginia’s business entity statutes. Part II high-lights the changes to the Virginia Stock Corporation Act (“VSCA”) and the Virginia Nonstock Corporation Act (“VNSCA”). Part III highlights changes to the Limited Liability Company Act (“LLCA”) and other business entity statutes. Virginia courts have also addressed several significant issues over the last two years, including the assignability of limited liability company (“LLC”) membership interests, standing to bring derivative claims, judicial dissolution, and significant claims against directors of Virginia corporations. Part IV reviews several of the significant cases during this period.