Amends TCA Title 43, Chapter 38; Title 48, Chapter 24; Title 48, Chapter 245; Title 48, Chapter 246; Title 48, Chapter 249; Title 48, Chapter 25; Title 48, Chapter 64; Title 48, Chapter 65 and Title 61, Chapter 3.
Tennessee HB0459 authorizes the secretary of state to administratively dissolve various business entities if they submit documents containing materially false information or if they are owned or controlled by a foreign adversary, with certain exceptions. The bill affects for-profit and nonprofit corporations, limited liability companies, and limited partnerships, both domestic and foreign, by allowing the revocation of their certificates of authority or registration under specified conditions. Key provisions include the expanded grounds for dissolution and revocation related to foreign ownership and false documentation.
Tennessee HB0459 authorizes the secretary of state to administratively dissolve various business entities if they submit documents containing materially false information or if they are owned or controlled by a foreign adversary, with certain exceptions. The bill affects for-profit and nonprofit corporations, limited liability companies, and limited partnerships, both domestic and foreign, by allowing the revocation of their certificates of authority or registration under specified conditions. Key provisions include the expanded grounds for dissolution and revocation related to foreign ownership and false documentation.
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