Tennessee § 48-231-206 Payment

Tennessee Statutes

§ 48-231-206 — Payment

Tennessee § 48-231-206

Title48

This text of Tennessee § 48-231-206 (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. § 48-231-206 (2026).

Text

(a)Except as provided in § 48-231-208 , as soon as the proposed LLC action is effectuated, or upon receipt of a payment demand, whichever is later, the LLC shall pay each dissenter who complied with § 48-231-205 the amount the LLC estimates to be the fair value of such dissenter's partnership interest, plus accrued interest.

(b)The payment must be accompanied by:

(1)The LLC's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any;

(2)A statement of the LLC's estimate of the fair value of the membership interests;

(3)An explanation of how the value of the membership interest was calculated;

(4)A statement of the dissenter's right t

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(a) Except as provided in § 48-231-208 , as soon as the proposed LLC action is effectuated, or upon receipt of a payment demand, whichever is later, the LLC shall pay each dissenter who complied with § 48-231-205 the amount the LLC estimates to be the fair value of such dissenter's partnership interest, plus accrued interest. (b) The payment must be accompanied by: (1) The LLC's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any; (2) A statement of the LLC's estimate of the fair value of the membership interests; (3) An explanation of how the value of the membership interest was calculated; (4) A statement of the dissenter's right to demand payment under § 48-231-209 ; and (5) A copy of this chapter, if the LLC has not previously sent a copy of this chapter to the member pursuant to § 48-231-202 or § 48-231-204 .