Tennessee Code 48-101-805 – Requirements of domestic and foreign LLCs
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A domestic or foreign nonprofit LLC under this part must:
Terms Used In Tennessee Code 48-101-805
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Entity: includes the following, whether foreign or domestic: LLCs. See Tennessee Code 48-202-101
- LLC: means a limited liability company, whether foreign or domestic, that is formed under, that is subject to, or that has elected to be governed by, as applicable, the Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, except where expressly indicated otherwise. See Tennessee Code 48-101-802
- Member: means a person reflected in the required records of an LLC as the owner of some governance rights of a membership interest of the LLC. See Tennessee Code 48-202-101