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Current as of January 02, 2024 | Updated by Findlaw Staff
(a) If proposed LLC action creating dissenters' rights under § 48-231-201 is submitted to a vote at a members' meeting, a member who wishes to assert dissenters' rights:
(1) Must deliver to the LLC, before the vote is taken, written notice of such member's intent to demand payment for such member's membership interest if the proposed action is effectuated; and
(2) Must not vote such member's membership interest in favor of the proposed action. No such written notice of intent to demand payment is required of any member to whom the LLC failed to provide the notice required by § 48-231-202.
(b) A member who does not satisfy the requirements of subsection (a) is not entitled to payment for such member's membership interest under this chapter.
Cite this article: FindLaw.com - Tennessee Code Title 48. Corporations and Associations § 48-231-203 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-48-corporations-and-associations/tn-code-sect-48-231-203/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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