Nonjudicial Termination by Organizers

1. Law
2. Tennessee Code
3. Securities, Corporations and Associations
4. Tennessee Revised Limited Liability Company Act
5. Dissolution and Winding Up of the Llc
6. Nonjudicial Termination by Organizers

1. 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.
2. The secretary of state shall file the articles of termination of the LLC if the secretary of state finds that the articles:
   1. Comply with subsection (a); and
   2. Are accompanied by a tax clearance for termination or withdrawal relative to such LLC.
3. When the articles of termination have been filed in accordance with subsection (b), the existence of the LLC is terminated.

Download our app to see the most-to-date content.