48-249-602 - Nonjudicial termination by organizers. - Tennessee Statutes

48-249-602. Nonjudicial termination by organizers.

(a)  Articles of termination.  An LLC that has not accepted contributions may be dissolved and its existence terminated by the organizers, if a majority of the organizers sign and file articles of termination with the secretary of state containing:

     (1)  The name of the LLC;

     (2)  The date of formation of the LLC;

     (3)  A statement that contributions have not been accepted by the LLC; and

     (4)  A statement that no debts of the LLC remain unpaid.

(b)  If the secretary of state finds that the articles of termination comply with the requirements of subsection (a), and if the articles of termination are accompanied by a certificate from the commissioner of revenue that the LLC has properly filed all reports and paid all taxes and penalties required by the revenue laws of this state, then the secretary of state shall file the articles of termination of existence of the LLC.

(c)  When the articles of termination have been filed in accordance with subsection (b), the existence of the LLC is terminated.

[Acts 2005, ch. 286, § 1; 2009, ch. 349, §§ 5, 6.]