{"data":{"id":"us-tn/tenn.-code-ann.-48-101-702","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 48-101-702","heading":"Part definitions","body":"As used in this part, unless the context otherwise requires: (1) \"Limited liability company\" or \"LLC\" means a limited liability company, foreign or domestic, organized under or subject to the Tennessee Limited Liability Company Act, compiled in chapters 201-248 of this title; (2) \"Nonprofit corporation,\" for the purposes of this part, means a nonprofit corporation, foreign or domestic, incorporated under or subject to chapters 51-68 of this title and exempt from franchise and excise tax as not-for-profit as defined in § 67-4-2004 ; (3) \"Nonprofit limited liability company\" or \"nonprofit LLC\" means a limited liability company: (A) That is disregarded as an entity for federal income tax purposes; and (B) Whose sole member is a nonprofit corporation, foreign or domestic, incorporated under or subject to chapters 51-68 of this title and who is exempt from franchise and excise tax as not-for-profit as defined in § 67-4-2004 ; (4) \"Parent nonprofit corporation\" means a nonprofit corporation that is the sole member of a nonprofit corporation; and (5) \"Subsidiary nonprofit corporation\" means a nonprofit corporation whose sole member is a nonprofit corporation. Acts 2001, ch. 418, § 1.\nAs used in this part, unless the context otherwise requires:\n(1) \"Limited liability company\" or \"LLC\" means a limited liability company, foreign or domestic, organized under or subject to the Tennessee Limited Liability Company Act, compiled in chapters 201-248 of this title;\n(2) \"Nonprofit corporation,\" for the purposes of this part, means a nonprofit corporation, foreign or domestic, incorporated under or subject to chapters 51-68 of this title and exempt from franchise and excise tax as not-for-profit as defined in § 67-4-2004 ;\n(3) \"Nonprofit limited liability company\" or \"nonprofit LLC\" means a limited liability company: (A) That is disregarded as an entity for federal income tax purposes; and (B) Whose sole member is a nonprofit corporation, foreign or domestic, incorporated under or subject to chapters 51-68 of this title and who is exempt from franchise and excise tax as not-for-profit as defined in § 67-4-2004 ;\n(A) That is disregarded as an entity for federal income tax purposes; and\n(B) Whose sole member is a nonprofit corporation, foreign or domestic, incorporated under or subject to chapters 51-68 of this title and who is exempt from franchise and excise tax as not-for-profit as defined in § 67-4-2004 ;\n(4) \"Parent nonprofit corporation\" means a nonprofit corporation that is the sole member of a nonprofit corporation; and\n(5) \"Subsidiary nonprofit corporation\" means a nonprofit corporation whose sole member is a nonprofit corporation.","path":["TN Code","Title 48","Chapter 101"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_tn_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:26Z","sha256":"37b75180795d0c1c43c50a77edbe00e0cf322738ff54a1abfba7dc10702369f2","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-48-101-701","next":"us-tn/tenn.-code-ann.-48-101-703"},"notice":"GroundRules: Original legal text. Not legal advice."}