Tennessee Code 48-245-901 – Judicial intervention and dissolution
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Terms Used In Tennessee Code 48-245-901
- Court: includes every court and judge having jurisdiction in the case. See Tennessee Code 48-202-101
- Entity: includes the following, whether foreign or domestic: LLCs. See Tennessee Code 48-202-101
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- LLC: means a limited liability company, organized under chapters 201-248 of this title. See Tennessee Code 48-202-101
A court may grant any equitable relief it considers just and reasonable in the circumstances or may dissolve an LLC and/or direct that the dissolved entity be merged into another or new LLC or other entity on the terms and conditions the court deems equitable.