Setting Up an LLC in Virginia

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Setting Up an LLC in Virginia

 

This Article outlines the key Virginia Limited Liability Company Act (the "Act") legal provisions that address setting up an LLC in Virginia.  The Virginia Limited Liability Company Act was passed in 1991 and is located in Sections 13.1-1000 through 13.1.1080 of the Virginia laws.

The provisions which govern the set up of a Virginia limited liability company are in Articles 1 through 3 of the Act.

Article 1- General Provisions

The main section of Article one is providing some key definitions and filing requirements processes that you will need to know if you are setting up an LLC in Virginia. Section 13.1-1003, Filing Requirements, contains a laundry list of requirements that MUST be met in order for the State of Virginia to accept a filing document to form a Virginia limited liability company.  These cover such matters as the required document formatting, what is required for proper execution of the formal filing documents and a break down of the required fees. 

Article 2 - Formation

When setting up an LLC in Virginia, this Article 2 is the most important section. First, it explains what powers and purposes a Virginia LLC can have and then it addresses what exactly is required in the official formation documents.  This Article also provides the regulations for what will be accepted as a Virginia LLC name. 

 

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Article 3 - Registered Agent and Office 

Every Virginia limited liability company is required to appoint and continuously maintain a Virginia registered agent and office. The registered agent serves a very important role for a Virginia business. 

Generally, the Virginia laws require that a Virginia registered agent be a resident of Virginia and either (i) a member or manager of the LLC; (ii) an officer of an entity that that is a member of the LLC; or (iii) a member of the Virginia State Bar (which means  Virginia lawyer).

A Virginia registered agent is not a lawyer but rather serves purely an administrative role.  The statute specifically states that "The sole purpose of the registered agent is to forward to the limited liability company, at its last known address, any process, notice, or demand that is served on the registered agent."  Section 13.1-1015.

 

 

 

These three articles contain all the requirements for setting up an LLC in Virginia. It is important that a limited liability company is properly formed in order to ensure limited liability protection and and to obtain other benefits of the LLC.  If you would like to access more articles with details about the various aspects of a Virginia LLC, visit the Virginia LLC Learning Center.

Virginia Business Formation offers the fastest and most complete LLC Formation Service for Virginia Business Owners.  In addition to a professional filing guaranteed to be in compliance with Virginia LLC requirements, you get other educational resources to teach you how to maintain your legal entity.  Click Here to Learn More about our LLC Formation Services.

 

 

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Disclaimer: The information provided on this site is for educational purposes only about the Virginia limited liability company and does not constitute the provision of legal advice. A document preparation and filing service is not the substitute for legal advice and any new business owner seeking legal or professional advice regarding new business legal entity, tax or other legal matters should seek the advice of an attorney or accountant.

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