Tennessee § 48-231-205 Duty to demand payment

Tennessee Statutes

§ 48-231-205 — Duty to demand payment

(a)A member sent a dissenters' notice described in § 48-231-204 must demand payment and certify whether the member acquired the membership interest before the date required to be set forth in the dissenters' notice pursuant to § 48-231-204(b)(2) .

(b)The member who demands payment under subsection (a) retains all other rights of a member until these rights are cancelled or modified by the effectuation of the proposed LLC action.

(c)A member who does not demand payment by the date set in the dissenters' notice is not entitled to payment for such member's membership interest under this chapter.

(d)A demand for payment filed by a member may not be withdrawn unless the LLC with which it was filed, or the surviving LLC, consents to such withdrawal.

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(a) A member sent a dissenters' notice described in § 48-231-204 must demand payment and certify whether the member acquired the membership interest before the date required to be set forth in the dissenters' notice pursuant to § 48-231-204(b)(2) . (b) The member who demands payment under subsection (a) retains all other rights of a member until these rights are cancelled or modified by the effectuation of the proposed LLC action. (c) A member who does not demand payment by the date set in the dissenters' notice is not entitled to payment for such member's membership interest under this chapter. (d) A demand for payment filed by a member may not be withdrawn unless the LLC with which it was filed, or the surviving LLC, consents to such withdrawal.

Tennessee § 48-231-205 (Duty to demand payment) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.