Tennessee Code 48-218-104 – Effective date of assignments
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 48-218-104
- 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
- LLC: means a limited liability company, organized under chapters 201-248 of this title. See Tennessee Code 48-202-101
Any permissible assignment of financial rights under § 48-218-101 and of governance rights under § 48-218-102 will be effective as to and binding on the LLC only when the assignee’s name, address, social security or taxpayer identification number and the nature and extent of the assignment are reflected in the required records of the LLC.