Tennessee § 48-231-203 Notice of intent to demand payment

Tennessee Statutes

§ 48-231-203 — Notice of intent to demand payment

Tennessee § 48-231-203

Title48

This text of Tennessee § 48-231-203 (Notice of intent to demand payment) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 48-231-203 (2026).

Text

(a)If proposed LLC action creating dissenters' rights under § 48-231-201 is submitted to a vote at a members' meeting, a member who wishes to assert dissenters' rights:

(1)Must deliver to the LLC, before the vote is taken, written notice of such member's intent to demand payment for such member's membership interest if the proposed action is effectuated; and (2) Must not vote such member's membership interest in favor of the proposed action. No such written notice of intent to demand payment is required of any member to whom the LLC failed to provide the notice required by § 48-231-202 .

(b)A member who does not satisfy the requirements of subsection (a) is not entitled to payment for such member's membership interest under this chapter.

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(a) If proposed LLC action creating dissenters' rights under § 48-231-201 is submitted to a vote at a members' meeting, a member who wishes to assert dissenters' rights: (1) Must deliver to the LLC, before the vote is taken, written notice of such member's intent to demand payment for such member's membership interest if the proposed action is effectuated; and (2) Must not vote such member's membership interest in favor of the proposed action. No such written notice of intent to demand payment is required of any member to whom the LLC failed to provide the notice required by § 48-231-202 . (b) A member who does not satisfy the requirements of subsection (a) is not entitled to payment for such member's membership interest under this chapter.