Tennessee Code 48-248-406 – Liability
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Terms Used In Tennessee Code 48-248-406
- Employee: includes an officer but not a director. See Tennessee Code 48-11-201
- Governor: means a natural person or entity serving on the board of governors of a board-managed LLC. See Tennessee Code 48-202-101
- Individual: includes the estate of an incompetent or deceased individual. See Tennessee Code 48-11-201
- Interest: means either or both of the following rights under the organic law of an unincorporated entity:
(A) The right to receive distributions from the entity either in the ordinary course or upon liquidation. See Tennessee Code 48-11-201 - LLC: means a limited liability company, organized under chapters 201-248 of this title. See Tennessee Code 48-202-101
- Manager: means a person elected, appointed, or otherwise designated as a manager by the governing body, and any other person considered elected as a manager pursuant to §. See Tennessee Code 48-202-101
- Member: means a person reflected in the required records of an LLC as the owner of some governance rights of a membership interest of the LLC. See Tennessee Code 48-202-101
- Person: includes individual and entity. See Tennessee Code 48-202-101
- PLLC: means an LLC, other than a foreign professional LLC, which has elected to become subject to this chapter. See Tennessee Code 48-248-102