What is the Tennessee Limited Liability Company Act?

The Tennessee Limited Liability Company Act provides the legal framework for forming and operating limited liability companies in Tennessee. This act outlines the rights and responsibilities of LLC members, ensuring compliance with state regulations. Understanding this act is crucial for anyone looking to establish a business in Tennessee.

How does airSlate SignNow help with compliance under the Tennessee Limited Liability Company Act?

airSlate SignNow offers a streamlined solution for managing documents required by the Tennessee Limited Liability Company Act. With features like eSigning and document storage, businesses can ensure they meet all necessary compliance requirements efficiently. This helps save time and reduces the risk of errors in documentation.

What are the benefits of forming an LLC under the Tennessee Limited Liability Company Act?

Forming an LLC under the Tennessee Limited Liability Company Act provides personal liability protection for business owners, separating personal assets from business debts. Additionally, LLCs enjoy flexible management structures and potential tax benefits. This makes it an attractive option for many entrepreneurs in Tennessee.

What are the costs associated with forming an LLC under the Tennessee Limited Liability Company Act?

The costs of forming an LLC under the Tennessee Limited Liability Company Act typically include filing fees, which can vary based on the type of business and additional services. Using airSlate SignNow can help reduce overall costs by simplifying the document preparation and filing process. This cost-effective solution is ideal for new business owners.

Can airSlate SignNow integrate with other business tools for LLC management?

Yes, airSlate SignNow can integrate with various business tools to enhance LLC management under the Tennessee Limited Liability Company Act. These integrations allow for seamless workflows, making it easier to manage documents and communications. This ensures that all aspects of your LLC are efficiently handled.

What features does airSlate SignNow offer for LLC document management?

airSlate SignNow provides features such as eSigning, document templates, and secure cloud storage, which are essential for managing LLC documents under the Tennessee Limited Liability Company Act. These tools simplify the process of preparing and signing necessary documents, ensuring compliance and efficiency. Users can easily track document status and maintain organization.

How can I ensure my LLC complies with the Tennessee Limited Liability Company Act?

To ensure compliance with the Tennessee Limited Liability Company Act, it's important to stay informed about the requirements and deadlines for your LLC. Utilizing airSlate SignNow can help you manage your documents effectively, ensuring that all necessary filings are completed on time. Regularly reviewing your compliance status is also recommended.

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PROFESSIONAL LIMITED LIABILITY COMPANY for LICENSED PROFESSIONALS STATE OF TENNESSEE Electronic Version STATUTORY REFERENCES TENNESSEE CODE, Title 48, Chapters 249 (Revised Limited Liability Company Act) TENNESSEE CODE, Title 48, Chapter 249, Part 11 (Professional Limited Liability Companies) http://www.tennesseeanytime.org/laws/laws.html (Select ‘Tennessee Code’ from menu) INTRODUCTORY NOTES AND LAW SUMMARY In the State of Tennessee a professional limited liability company (PLLC) is controlled generally by those provisions of the TENNESSEE CODE contained in Title 48, Chapter 249. There are specific provisions of Chapter 249, Part 11, which are applicable to professional limited liability companies. In addition to the statutory provisions applicable to limited liability companies and professional limited liability companies, a PLLC organized to engage in any professional practice is also subject to the rules and regulations of the state governing/examining board/agency for that specific profession. Prior to filing Articles of Organization for a PLLC organized to engage in a professional practice, you should check with the governing/examining board/agency for your profession to confirm that you are in compliance with all of their rules and regulations.
tenn. Code ann. § 49–13–801 (a) a professional limited liability company may not transact or engage in a business, profession, or occupation except as allowed under this part. (b) a professional limited liability company may transact or engage in a business, profession, or occupation only if: (1) in the aggregate the net worth of all the company's shareholders excluding the president is at least 300,; or (2 the amount of capital stock owned and paid for by any shareholder is at least 5, (c) a professional limited liability company may not transact or engage in a business, profession, or occupation except as allowed under subsections (a) or (b) of this section. (d) a professional limited liability company must not conduct business through any medium that is not as stated in paragraph (2) of subsection (b) of this section. (e) a professional limited liability company may transact or engage in a business, profession, or occupation as allowed under subsections (a) or (b) of this section if: (1) the person conducting the business is a person of good repute and reputation in the professional or trade or as a member of the clergy; (2) the business is for the purposes of the person's profession; (3) the fees charged are reasonable; and (4) the business continues for at least six months after all financial obligations have been satisfied. (f) no individual is considered to be acting as a member or trustee of a corporation on behalf of the corporation by reason of the fact that the person is an employee or officer of the corporation. [2006, c. 508 , pt. A, §2 (new) ; 2007, c. 447 , §2 (aff) .] §49–13–804. Definition of professional limited liability company. (a) a professional limited liability company is one organized and doing business or engaged in the practice of: (1) law or profession; or (2) an activity constituting a part of the activity as limited by this chapter; for which license is sought as a licensee. (a1) a professional limited liability company is one organized and doing business or engaged in the practice of: (1) law or profession; or (2) an activity constituting a part of the activity as limited by this chapter; for which license

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Fill and Sign the Chapter 249 Tennessee Revised Limited Liability Company Act Form