Tennessee Code 48-249-805 – Equitable remedies
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Terms Used In Tennessee Code 48-249-805
- Court: includes every court and judge having jurisdiction in the case. See Tennessee Code 48-202-101
- Director: means an individual who is vested with authority as a director under §. See Tennessee Code 48-249-102
- 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
- Financial rights: means a member's or holder's rights to:
(A) Share in profits and losses, as provided in §. See Tennessee Code 48-249-102 - holder: means a person, other than a member, owning any financial rights in an LLC. See Tennessee Code 48-249-102
- LLC: means a limited liability company, organized under chapters 201-248 of this title. See Tennessee Code 48-202-101
- Manager: means a person who is vested with authority as a manager under §. See Tennessee Code 48-249-102
- Member: means a person that has been admitted to an LLC as a member, as provided in §. See Tennessee Code 48-249-102
- Officer: means an individual, who is vested with authority as an officer under §. See Tennessee Code 48-249-102
- Person: means an individual or an entity. See Tennessee Code 48-249-102
- Proceeding: means any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, and whether formal or informal. See Tennessee Code 48-249-102
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
If an LLC, or any officer, manager, director or member, as applicable, of the LLC, or other person with the authority to act for the LLC, violates a provision of this chapter, a court in this state may, in a proceeding brought by a member or holder of financial rights of the LLC, grant any equitable relief it considers just and reasonable in the circumstances, and, award expenses, including attorneys’ fees and disbursements, to the member or holder of financial rights, as applicable.