™Your Policy Risk Impact Agent
92 chapters · 1,075 sections in this title.
Tenn. Code Ann. § 48-242-101 Loans, guarantees and suretyship
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(a) Prerequisites. Unless otherwise provided in chapters 201-248 of this title or the articles or operating agreement, an LLC may lend money to, guarantee an obligation of, become a surety for, or otherwise financially assist a person:(1) In the usual and regular course of busine…
Tenn. Code Ann. § 48-242-102 Advances
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Unless otherwise provided in the articles or the operating agreement, an LLC may, without a vote of the governors or its members, advance money to its governors, managers, or employees to cover expenses that can reasonably be anticipated to be incurred by them in the ordinary cou…
