Tennessee Code 48-218-103 – Consensual restrictions on assignment of governance rights
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 48-218-103
- Financial rights: means a member's rights to:
(A) Share in profits and losses as provided in §. See Tennessee Code 48-202-101 - Governance rights: means a right to vote on one (1) or more matters and all a member's rights as a member in the LLC other than financial rights and the right to assign financial rights. See Tennessee Code 48-202-101
In addition to restrictions set forth in this chapter, restrictions on the assignment of governance rights may be imposed in accordance with the procedures and under the same conditions as stated in § 48-218-101(c), for restricting the assignment of financial rights.