Nonjudicial Termination by Organizers

  1. Law
  2. Tennessee Code
  3. Securities, Corporations and Associations
  4. Dissolution Generally
  5. Nonjudicial Dissolution
  6. Nonjudicial Termination by Organizers

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  1. Manner.  An LLC that has not accepted contributions may be dissolved and terminated by the organizers in the manner set forth in this section.
  2. Articles of Termination.  A majority of the organizers shall sign and file with the secretary of state articles of termination containing:
    1. The name of the LLC;
    2. The date of organization;
    3. A statement that contributions have not been accepted; and
    4. A statement that no debts remain unpaid.
  3. The secretary of state shall file the articles of termination of existence of the LLC if the secretary of state finds that the articles:
    1. Comply with subsection (b); and
    2. Are accompanied by a tax clearance for termination or withdrawal relative to such LLC.
  4. When the articles of termination have been filed in accordance with subsection (c), the existence of the LLC is terminated.


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