Tennessee § 48-101-705 - Standard of conduct for LLC members — Indemnification — Limitation on actions — Application to private foundations.
Full text of Tennessee Tennessee Code Annotated § 48-101-705 — Standard of conduct for LLC members — Indemnification — Limitation on actions — Application to private foundations., with citation guidance and answers to common questions.
§ 48-101-705. Standard of conduct for LLC members — Indemnification — Limitation on actions — Application to private foundations.
The standards of conduct established in §§ 48-58-301, 48-58-302, 48-58-303, and 48-58-403 applicable to the directors, officers, employees and agents of the nonprofit corporation that is the sole member of a nonprofit LLC shall likewise apply to the governors, managers, employees and agents of the nonprofit LLC. The indemnification provisions of chapter 58, part 5 of this title applicable to the directors, officers, employees and agents of the nonprofit corporation that is the sole member of a nonprofit LLC shall likewise apply to the governors, managers, employees and agents of the nonprofit LLC. The limitation of actions and immunity from actions provided in chapter 58, part 6 of this title applicable to the directors, officers, trustees and members of the nonprofit corporation that is the sole member of a nonprofit LLC shall likewise apply to the governors and managers of the nonprofit LLC. The attorney general and reporter shall have such authority, rights and obligations over nonprofit LLCs as the attorney general and reporter has over nonprofit corporations pursuant to chapters 51-68 of this title. If the nonprofit corporation that is the sole member of the nonprofit LLC is a “private foundation” as defined in § 509(a) of the Internal Revenue Code of 1986 (26 U.S.C. § 509(a)), the requirements of § 48-51-501 shall likewise apply to the nonprofit LLC. Acts 2001, ch. 418, § 1; 2014, ch. 899, § 95.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 48-101-705
What does Tennessee Code Annotated § 48-101-705 cover?
Section 48-101-705 ("Standard of conduct for LLC members — Indemnification — Limitation on actions — Application to private foundations.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 48-101-705?
A common citation format is "Tennessee Code Annotated § 48-101-705" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 48-101-705 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.