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Tenn. Code Ann. § 48-249-501

Admission of members

Known as the Tennessee Revised Limited Liability Company Act

The act spans §§ 48–48 (146 sections).

Acts 2005, ch. 286, § 1.

(1) Admission at formation. In connection with the formation of an LLC, a person is admitted as a member of the LLC upon the later to occur of: The formation of the LLC under § 48-249-201; or

(2) The time provided in and upon compliance with the LLC documents, or, if the LLC documents do not so provide, the time at which the person's admission is reflected in the records of the LLC.

(3) Admission after formation. After an LLC is formed, all members shall approve the admission of a new person as a member, the membership interest of such person and the contribution of such person. All consents under this subsection (b) may be unreasonably withheld and are in the sole discretion of the members.

(4) Single member LLCs. An LLC may have one (1) or more members.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.