Tennessee § 48-249-1102 - Part definitions.

§ 48-249-1102. Part definitions.

As used in this part, unless the context otherwise requires: “Disqualified person” means an individual or entity that for any reason is or becomes ineligible under this part to be a member of a PLLC or holder of financial rights of a PLLC; “Foreign professional LLC,” “foreign PLLC” or a PLLC that is otherwise designated as “foreign” means a foreign LLC that is formed under a law other than the law of this state for the purpose of rendering professional services under a law other than the law of this state; “Law” includes rules promulgated in accordance with §§ 48-249-1109 and 48-249-1129; “Licensing authority” means the officer, board, agency, court or other authority in this state empowered to license or otherwise authorize the rendition of a professional service; “Professional LLC,” “PLLC,” “domestic professional LLC,” “domestic PLLC” or a professional LLC or PLLC that is otherwise designated as “domestic,” means a professional LLC that is formed under this chapter, an LLC for which professional LLC status has been elected under this part or, where expressly indicated, a professional LLC that is formed under the Tennessee Limited Liability Company Act, compiled in chapters 201-248 of this title, or an LLC that is formed under the Tennessee Limited Liability Company Act for which professional LLC status has been elected under the Tennessee Limited Liability Company Act; “Professional service” means a service that may be lawfully rendered only by a person licensed or otherwise authorized by a licensing authority in this state to render the service; and “Qualified person” means an individual, general partnership, limited liability partnership, professional corporation, professional association or domestic or foreign PLLC that is eligible to be a member of or holder of financial rights in a PLLC under § 48-249-1109. Acts 2005, ch. 286, § 1; 2006, ch. 620, § 54.