Tennessee Code Title 48. Corporations and Associations § 48-231-101

(1) “Dissenter” means a member who is entitled to dissent from LLC action under § 48-231-201(a) and who exercises that right when and in the manner required under this chapter;

(2) “Fair value” means the value of the dissenter's membership interest of an LLC immediately before the effective date of the LLC action referred to in § 48-231-201(a), excluding any appreciation or depreciation in anticipation of the LLC action;

(3) “Interest” means interest from the effective date of the action referred to in § 48-231-201(a) that gave rise to the member's right to dissent until the date of payment, at the average auction rate paid on United States treasury bills with a maturity of six (6) months (or the closest maturity thereto) as of the auction date for such treasury bills closest to such effective date;

(4) “LLC” means an LLC whose members have obtained rights to dissent under § 48-231-201(a), and includes any successor by merger;

(5) “Member” includes a former member when dissenters' rights exist because: