{"data":{"id":"us-tn/tenn.-code-ann.-48-231-206","jurisdiction":"us-tn","citation":"Tenn. Code Ann. § 48-231-206","heading":"Payment","body":"(a) Except as provided in § 48-231-208 , as soon as the proposed LLC action is effectuated, or upon receipt of a payment demand, whichever is later, the LLC shall pay each dissenter who complied with § 48-231-205 the amount the LLC estimates to be the fair value of such dissenter's partnership interest, plus accrued interest. (b) The payment must be accompanied by: (1) The LLC's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any; (2) A statement of the LLC's estimate of the fair value of the membership interests; (3) An explanation of how the value of the membership interest was calculated; (4) A statement of the dissenter's right to demand payment under § 48-231-209 ; and (5) A copy of this chapter, if the LLC has not previously sent a copy of this chapter to the member pursuant to § 48-231-202 or § 48-231-204 . Acts 1994, ch. 868, § 1.\n(a) Except as provided in § 48-231-208 , as soon as the proposed LLC action is effectuated, or upon receipt of a payment demand, whichever is later, the LLC shall pay each dissenter who complied with § 48-231-205 the amount the LLC estimates to be the fair value of such dissenter's partnership interest, plus accrued interest.\n(b) The payment must be accompanied by: (1) The LLC's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any; (2) A statement of the LLC's estimate of the fair value of the membership interests; (3) An explanation of how the value of the membership interest was calculated; (4) A statement of the dissenter's right to demand payment under § 48-231-209 ; and (5) A copy of this chapter, if the LLC has not previously sent a copy of this chapter to the member pursuant to § 48-231-202 or § 48-231-204 .\n(1) The LLC's balance sheet as of the end of a fiscal year ending not more than sixteen (16) months before the date of payment, an income statement for that year, and the latest available interim financial statements, if any;\n(2) A statement of the LLC's estimate of the fair value of the membership interests;\n(3) An explanation of how the value of the membership interest was calculated;\n(4) A statement of the dissenter's right to demand payment under § 48-231-209 ; and\n(5) A copy of this chapter, if the LLC has not previously sent a copy of this chapter to the member pursuant to § 48-231-202 or § 48-231-204 .","path":["TN Code","Title 48","Chapter 231"],"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":"fab53b3683618c7f6245e3414ad8427929c79345ffd578e24ac55137002c0589","source_id":"us-tn","stale":false,"prev":"us-tn/tenn.-code-ann.-48-231-205","next":"us-tn/tenn.-code-ann.-48-231-207"},"notice":"GroundRules: Original legal text. Not legal advice."}