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TENNESSEE STATUTES AND CODES
48-246-502 - Procedure for and effect of revocation.
48-246-502. Procedure for and effect of revocation.
(a) If the secretary of state determines that one (1) or more grounds exist under § 48-246-501 for revocation of a certificate of authority, the secretary of state shall serve the foreign LLC with written communication of the secretary of state's determination, except that such determination may be sent by first class mail. Notice need not be sent if the grounds for revocation are pursuant to § 48-246-501(5) and a certificate of revocation may be sent without the two (2) month waiting period required by subsection (b).
(b) If the foreign LLC does not correct each ground for revocation or demonstrate to the reasonable satisfaction of the secretary of state that each ground determined by the secretary of state does not exist within two (2) months after service of the communication, the secretary of state may revoke the foreign LLC's certificate of authority by signing a certificate of revocation that recites the ground or grounds for revocation and its effective date. The secretary of state shall file the original of the certificate and serve a copy on the foreign LLC, except that the certificate may be sent by first class mail.
(c) The authority of a foreign LLC to transact business in this state ceases on the date shown on the certificate revoking its certificate of authority.
(d) The secretary of state's revocation of a foreign LLC's certificate of authority appoints the secretary of state the foreign LLC's agent for service of process in any proceeding based on a cause of action which arose during the time the foreign LLC was authorized to transact business in this state. Service of process on the secretary of state under this subsection is service on the foreign LLC. Upon receipt of process, the secretary of state shall comply with the provisions of § 48-208-105.
(e) Revocation of a foreign LLC's certificate of authority does not terminate the authority of the registered agent of the LLC.
[Acts 1994, ch. 868, § 1.]