A. A person is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of: 1. A protected series of a series limited liability company solely by reason of being or acting as: a. An associated member, protected series manager, or protected series assignee of the protected series; or b. A member, manager, or an assignee of the series limited liability company; or 2. A series limited liability company solely by reason of being or acting as an associated member, protected series manager, or protected series assignee of a protected series of the series limited liability company. B. Subject to § 13.1-1099.10, the following rules apply: 1. A debt, obligation, or other liability of a series limited liability company is solely the debt, obligation, or liability of the series limited liability company. 2. A debt, obligation, or other liability of a protected series is solely the debt, obligation, or liability of the protected series. 3. A series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of a protected series of the series limited liability company solely by reason of the protected series being a protected series of the series limited liability company or the series limited liability company: a. Being or acting as a protected series manager of the protected series; b. Having the protected series manage the series limited liability company; or c. Owning a protected series membership interest of the protected series. 4. A protected series of a series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the series limited liability company or another protected series of the series limited liability company solely by reason of: a. Being a protected series of the series limited liability company; b. Being or acting as a manager of the series limited liability company or a protected series manager of another protected series of the series limited liability company; or c. Having the series limited liability company or another protected series of the series limited liability company be or act as a protected series manager of the protected series. 2019, c. 636.
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