2010 Tennessee Code
Title 48 - Corporations And Associations
Chapter 228 - Records and Reports
Part 1 - Required Records and Information
48-228-101 - Required records and information.
48-228-101. Required records and information.
(a) Board-Managed LLC. If an LLC has elected to be board-managed, it shall keep at its principal executive office, or at another place or places within the United States determined by the board of governors:
(1) A current list of the full name and last-known business, residence, or mailing address of the chief manager, secretary and each member and governor;
(2) A current list of the full name and last-known business, residence, or mailing address of each assignee of financial rights and a description of the rights assigned;
(3) A copy of the articles and all amendments to the articles;
(4) Copies of the currently effective operating agreement and/or any agreements concerning classes or series of membership interests;
(5) Copies of the LLC's federal, state, and local income tax returns and reports, if any, for the three (3) most recent years;
(6) Financial statements required by § 48-228-201 and accounting records of the LLC;
(7) Records of all proceedings of members, if any;
(8) Any written consents obtained from members under chapters 201-248 of this title;
(9) Records of all proceedings of the board of governors for the last three (3) years;
(10) A statement of all contributions accepted under § 48-232-101, the identity of the contribution and the agreed value of the contribution;
(11) A copy of all contribution agreements and contribution allowance agreements; and
(12) A copy of the LLC's most recent annual report delivered to the secretary of state under § 48-228-203.
(b) Member-Managed LLC. If an LLC has elected to be governed by the members directly, it shall keep at its principal executive office, or at another place or places within the United States determined by its members:
(1) All records required by subsection (a), except for subdivision (a)(6) and other records relating solely to a board of governors, the identity of governors, or actions of a board of governor; and
(2) Financial information sufficient to provide true and full information regarding the status of the business and financial condition of the LLC.
[Acts 1994, ch. 868, § 1.]
Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.