Unless otherwise provided in the articles of organization or operating agreement, management of a decentralized organization is vested in:

(1) The organization’s members, if member-managed; or
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Terms Used In Tennessee Code 48-250-108

  • articles of organization: means in the case of an LLC organized under chapters 201-248 of this title, articles of organization, articles of amendment, articles of correction, certificates of merger, and all similar documents required to be filed with any of the foregoing as part of the formation and continuation of an LLC. See Tennessee Code 48-202-101
  • Contract: A legal written agreement that becomes binding when signed.
  • Decentralized organization: means a decentralized organization, organized under this chapter. See Tennessee Code 48-250-101
  • Member-managed: means an LLC organized pursuant to this title that has elected pursuant to §. See Tennessee Code 48-202-101
  • Operating agreement: means a written agreement described in §. See Tennessee Code 48-202-101
(2) The smart contract, if smart contract-managed.
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