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There are however at least two nonuniform states Delaware and Virginia where the LLC statutes preempt the UCC. 13 Therefore Sections 9-408 of the Delaware UCC or the Virginia UCC are ineffective to invalidate the antiassignment provision found in any Delaware or Virginia limited liability company. Thus the fact that the ability of SP2 to direct disposition of funds is conditioned upon action by SP1 does not vitiate control for SP2. The notion that a security interest granted to SP2 is...
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