This course features an overview of the Tennessee Limited Liability Act (the Prior Act) and the Tennessee Revised Limited Liability Act (the Revised Act), including an important reminder that the Prior Act is alive and well, remains effective, and continues to govern LLCs formed prior to January 1, 2006 that have not elected to be governed by the Revised Act. Specifically, the presentation addresses significant distinctions between the Prior Act and the Revised Act, including those with respect to: management paradigms; agency authority of members, managers, governors, directors, and officers; termination of membership interests; dissolution; and private ordering of affairs under LLC documents.
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The information presented clarified multiple questionable situations that have risen in the past and required extensive research.
Very helpful overview
Good discussion of prior vs. revised.
Very helpful overview of the two acts.
This program will be filed for Tennessee CLE credit. Please email a request to firstname.lastname@example.org for Georgia and Mississippi CLE credit.