Tennessee § 48-249-501 Admission of members

Tennessee Statutes

§ 48-249-501 — Admission of members

(a)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:

(1)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.

(b)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.

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

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(a) 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: (1) 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. (b) 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. (c) Single member LLCs. An LLC may have one (1) or more members.

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