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2017 Tennessee Code
Title 48 - Corporations and Associations
Limited Liability Companies
Chapter 236 - Distributions
§ 48-236-103. Distribution in kind.
Universal Citation: TN Code § 48-236-103 (2017)
Except as provided in the articles or an operating agreement, a member, regardless of the nature of the member's contribution, has no right to demand and receive any distribution from an LLC in any form other than cash. Except as provided in the articles or an operating agreement, a member may not be compelled to accept a distribution of any asset in kind from an LLC to the extent that the percentage of the asset distributed to the member exceeds a percentage of that asset that is equal to the percentage in which the member shares in distributions from the LLC.
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