48-101-704 - Organization as a nonprofit LLC. - Tennessee Statutes

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48-101-704. Organization as a nonprofit LLC.

A nonprofit corporation may organize a nonprofit LLC by filing articles of organization prominently designating it as a nonprofit limited liability company with the office of the secretary of state consistent with the Tennessee Limited Liability Company Act; provided, that an LLC shall qualify as a nonprofit LLC only if the LLC is disregarded as an entity for federal income tax purposes. No more than one (1) nonprofit corporation may be a member of a nonprofit LLC.

[Acts 2001, ch. 418, § 1.]

State Codes and Statutes

Statutes > Tennessee > Title-48 > Chapter-101 > Part-7 > 48-101-704

48-101-704. Organization as a nonprofit LLC.

A nonprofit corporation may organize a nonprofit LLC by filing articles of organization prominently designating it as a nonprofit limited liability company with the office of the secretary of state consistent with the Tennessee Limited Liability Company Act; provided, that an LLC shall qualify as a nonprofit LLC only if the LLC is disregarded as an entity for federal income tax purposes. No more than one (1) nonprofit corporation may be a member of a nonprofit LLC.

[Acts 2001, ch. 418, § 1.]

State Codes and Statutes

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State Codes and Statutes

Statutes > Tennessee > Title-48 > Chapter-101 > Part-7 > 48-101-704

48-101-704. Organization as a nonprofit LLC.

A nonprofit corporation may organize a nonprofit LLC by filing articles of organization prominently designating it as a nonprofit limited liability company with the office of the secretary of state consistent with the Tennessee Limited Liability Company Act; provided, that an LLC shall qualify as a nonprofit LLC only if the LLC is disregarded as an entity for federal income tax purposes. No more than one (1) nonprofit corporation may be a member of a nonprofit LLC.

[Acts 2001, ch. 418, § 1.]