48-249-1123 - Foreign PLLCs. - Tennessee Statutes

48-249-1123. Foreign PLLCs.

(a)  Certificate of authority required.  Except as provided in subsection (c), a foreign PLLC may not transact business in this state until it obtains a certificate of authority from the secretary of state.

(b)  Requirements.  A foreign PLLC may not obtain a certificate of authority, unless:

     (1)  Its name satisfies the requirements of § 48-249-1108;

     (2)  It is formed for one (1) or more of the purposes referenced in, and satisfies the requirements of § 48-249-1104; and

     (3)  All of its members, holders of financial rights, or their equivalent, if any, directors, or their equivalent, if any, managers, or their equivalent, if any, and officers, or their equivalent, if any, are licensed in one (1) or more states to render a professional service described in its articles; provided, however, that, if the licensing authority of this state permits persons other than qualified persons to serve as directors, managers or officers of a PLLC, not less than one half (½) of its directors, or their equivalent, if any, all of its managers, or their equivalent, if any, and all of its officers, or their equivalent, if any, except the secretary, assistant secretary and treasurer, if any, shall be qualified persons with respect to the foreign PLLC.

(c)  Exception.  A foreign PLLC is not required to obtain a certificate of authority in this state, unless it maintains, or intends to maintain an office, in this state for conduct of business or professional practice.

[Acts 2005, ch. 286, § 1.]