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Tennessee Code Title 48. Corporations and Associations § 48-231-204

Current as of January 02, 2024 | Updated by FindLaw Staff

(a) If proposed LLC action creating dissenters' rights under § 48-231-201 is authorized at a members' meeting, the LLC shall deliver a written dissenters' notice to all members who satisfied the requirements of § 48-231-203.

(b) The dissenters' notice must be sent no later than ten (10) days after the LLC action was authorized by the members or effectuated, whichever is the first to occur, and must:

(1) State where the payment demand must be sent;

(2) Supply a form for demanding payment that includes the date of the first announcement to news media or to members of the principal terms of the proposed LLC action and requires that the person asserting dissenters' rights certify whether or not the member acquired membership interest before that date;

(3) Set a date by which the LLC must receive the payment demand, which date may not be fewer than one (1) nor more than two (2) months after the date required in subsection (a) is delivered; and

(4) Be accompanied by a copy of this chapter, if the LLC has not previously sent a copy of this chapter to the member pursuant to § 48-231-202.

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Cite this article: FindLaw.com - Tennessee Code Title 48. Corporations and Associations § 48-231-204 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-48-corporations-and-associations/tn-code-sect-48-231-204/

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