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TENNESSEE STATUTES AND CODES
48-236-104 - Status as a creditor.
48-236-104. Status as a creditor.
At the time a member becomes entitled to receive a distribution, the member has the status of, and is entitled to all remedies available to, a general, unsecured creditor of the LLC with respect to the distribution. The articles or an operating agreement may provide for the establishment of a record date with respect to allocations and distributions by an LLC.
[Acts 1994, ch. 868, § 1.]
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