republic-os/legislation/us/states/va/2019/hb-2272.md

type, title, description, jurisdiction, legislature, session, identifier, citation, classification, subjects, status, primary_sponsors, version_count, action_count, vote_count, first_action, last_action, source, source_identifier, source_url, source_hash, vintage, source_snapshot, retrieved_at, confidence, tags

type	title	description	jurisdiction	legislature	session	identifier	citation	classification	subjects	status	primary_sponsors	version_count	action_count	vote_count	first_action	last_action	source	source_identifier	source_url	source_hash	vintage	source_snapshot	retrieved_at	confidence	tags
Bill	Limited liability companies; Protected Series Act.	Provides for the creation by a limited liability company (LLC) of one or more protected series. The measure provides that each protected series may have different ownership, management structures, assets, and liabilities. Each protected series may function in a manner analogous to a separate legal entity within the LLC that established the protected series, which is referred to as the series LLC. The measure provides a process through which debts and obligations of one protected series are neither the debts nor obligations of any other protected series nor of the series LLC. Under the measure, a separate public filing is required to establish each protected series of a series LLC. The measure specifies rules for disregarding the internal liability shields that protect the assets of one protected series from the creditors of another. The measure provides that assets not properly associated with a protected series may be subject to the claims of creditors even if the internal shields among series remain intact. The measure is based on the Uniform Protected Series Act prepared by the National Conference of Commissioners on Uniform State Laws. The measure has a delayed effective date of July 1, 2020.	us/states/va	Virginia General Assembly	2019	HB 2272	Virginia HB 2272 (2019)	bill	Corporations	enacted	Michael J. Webert	5	20	7	2019-01-08	2019-03-19	openstates	ocd-bill/79998975-2c23-448e-a726-6d5b8d2ba88f	http://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+HB2272	c2d14dda7ace8c95258757292230c62a0d79af99cf903bcd9042d59db11903d1	2026-07-01	https://data.openstates.org/daily/2026-07-01/public.pgdump	2026-07-06	reported	legislation bill us-va

Virginia HB 2272 (2019) — Limited liability companies; Protected Series Act.

Provides for the creation by a limited liability company (LLC) of one or more protected series. The measure provides that each protected series may have different ownership, management structures, assets, and liabilities. Each protected series may function in a manner analogous to a separate legal entity within the LLC that established the protected series, which is referred to as the series LLC. The measure provides a process through which debts and obligations of one protected series are neither the debts nor obligations of any other protected series nor of the series LLC. Under the measure, a separate public filing is required to establish each protected series of a series LLC. The measure specifies rules for disregarding the internal liability shields that protect the assets of one protected series from the creditors of another. The measure provides that assets not properly associated with a protected series may be subject to the claims of creditors even if the internal shields among series remain intact. The measure is based on the Uniform Protected Series Act prepared by the National Conference of Commissioners on Uniform State Laws. The measure has a delayed effective date of July 1, 2020.

Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. Governor: Acts of Assembly Chapter text (CHAP0636) (committee substitute) — source
2. House amendments adopted (committee substitute) — source
3. House: Bill text as passed House and Senate (HB2272ER) (committee substitute) — source
4. House: Prefiled and ordered printed; offered 01/09/19 19100497D (committee substitute) — source
5. House: Printed as engrossed 19100497D-E (committee substitute) — source

Votes

• Reported from Commerce and Labor with amendments — 21–0 (pass) · lower
• Reported from Commerce and Labor — 14–0 (pass) · upper
• Read third time and passed House BLOCK VOTE — 98–0 (pass) · lower
• Passed House BLOCK VOTE — 99–0 (pass) · lower
• Reported from Finance — 16–0 (pass) · upper
• Constitutional reading dispensed — 40–0 (pass) · upper
• Passed Senate — 39–0 (pass) · upper

Sponsors

• Michael J. Webert — primary (person)

Timeline

The legislative action history — every referral, reading, and vote.

• 2019-01-08 Prefiled and ordered printed; offered 01/09/19 19100497D introduction
• 2019-01-08 Referred to Committee on Commerce and Labor referral-committee
• 2019-01-28 Read first time reading-1
• 2019-01-29 Read second time reading-2
• 2019-01-29 Committee amendments agreed to
• 2019-01-29 Engrossed by House as amended HB2272E
• 2019-01-29 Printed as engrossed 19100497D-E
• 2019-01-30 Read third time and passed House BLOCK VOTE (98-Y 0-N) passage, reading-3
• 2019-01-30 Reconsideration of passage agreed to by House
• 2019-01-30 Passed House BLOCK VOTE (99-Y 0-N) passage
• 2019-01-31 Constitutional reading dispensed
• 2019-01-31 Referred to Committee on Commerce and Labor referral-committee
• 2019-02-11 Rereferred to Finance referral-committee
• 2019-02-15 Read third time reading-3
• 2019-02-22 Enrolled
• 2019-02-22 Signed by Speaker
• 2019-02-22 Signed by President
• 2019-03-04 Enrolled Bill communicated to Governor on March 4, 2019
• 2019-03-04 Governor's Action Deadline Midnight, March 26, 2019
• 2019-03-19 Approved by Governor-Chapter 636 (effective 7/1/20) executive-signature

Source

OpenStates / OpenCivicData bulk snapshot 2026-07-01; origin ocd-bill/79998975-2c23-448e-a726-6d5b8d2ba88f. Confidence: reported (aggregated from official Virginia legislature records).