48-242-102 - Advances. - Tennessee Statutes

48-242-102. Advances.

Unless otherwise provided in the articles or the operating agreement, an LLC may, without a vote of the governors or its members, advance money to its governors, managers, or employees to cover expenses that can reasonably be anticipated to be incurred by them in the ordinary course of the performance of their duties and for which they would be entitled to reimbursement in the absence of an advance.

[Acts 1994, ch. 868, § 1.]