(Effective January 1, 2027) Termination and suspension

Va. Code Ann. § 13.1-837.2
in effect
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A. A membership in a corporation may be terminated or suspended for the reasons and in the manner provided in the articles of incorporation or bylaws. B. The articles of incorporation or bylaws may include a provision to permit a member to resign as a member. C. A proceeding challenging a termination or suspension for any reason shall be commenced within one year after the effective date of the termination or suspension. D. The termination or suspension of a member does not relieve the member from any obligations incurred or commitments made prior to the termination or suspension. 2026, cc. 393 , 394 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/13.1-837.2/Fetched: 10/16/2026

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