Tennessee § 48-240-101 - Member-managed.
Full text of Tennessee Tennessee Code Annotated § 48-240-101 — Member-managed., with citation guidance and answers to common questions.
§ 48-240-101. Member-managed.
If the LLC has elected to be member-managed, any actions that would require the action of the board of governors shall be made by the members. Unless chapters 201-248 of this title, the articles or operating agreement require otherwise, decisions shall be made and actions taken by a majority vote of the members acting in their capacity as members present at a meeting at which a quorum is established. Acts 1994, ch. 868, § 1; 1995, ch. 403, § 60. Law Reviews. Getting Your Fair Share: What Are the Fiduciary Duties When One Member Takes a Piece of the LLC Pie? (Richard Spore), 40 Tenn. B.J. 22 (2004).
Frequently Asked Questions About Tennessee § 48-240-101
What does Tennessee Code Annotated § 48-240-101 cover?
Section 48-240-101 ("Member-managed.") 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 § 48-240-101?
A common citation format is "Tennessee Code Annotated § 48-240-101" (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 § 48-240-101 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.