™Your Policy Risk Impact Agent
92 chapters · 1,075 sections in this title.
Tenn. Code Ann. § 48-236-101 Sharing of distributions
0.3K chars
Unless otherwise provided in or through the articles or operating agreement, distributions of cash or other assets of an LLC, including distributions on termination of the LLC except as provided in § 48-245-1101, must be allocated equally among the members.
Tenn. Code Ann. § 48-236-102 Interim distributions
0.2K chars
Except as provided in or through the articles or operating agreement or by a majority vote of the members, a member is entitled to receive distributions before the LLC's termination only as specified in the articles or operating agreement.
Tenn. Code Ann. § 48-236-103 Distribution in kind
0.6K chars
Except as provided in the articles or an operating agreement, a member, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from an LLC in any form other than cash. Except as provided in the articles or an operating agreement…
Tenn. Code Ann. § 48-236-104 Status as a creditor
0.4K chars
At the time a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a general, unsecured creditor of the LLC with respect to the distribution. The articles or an operating agreement may provide for the estab…
