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 SB0306 authorizes the Secretary of State to administratively dissolve certain business entities if they file documents containing materially false information or if they are owned or controlled by foreign adversaries as defined by federal regulations. The bill affects various types of entities, including for-profit and nonprofit corporations, limited liability companies (LLCs), and limited partnerships operating in Tennessee. Key provisions include the addition of criteria for dissolution based on foreign ownership and the requirement for entities to maintain accurate documentation.
Tennessee SB0306 authorizes the Secretary of State to administratively dissolve certain business entities if they file documents containing materially false information or if they are owned or controlled by foreign adversaries as defined by federal regulations. The bill affects various types of entities, including for-profit and nonprofit corporations, limited liability companies (LLCs), and limited partnerships operating in Tennessee. Key provisions include the addition of criteria for dissolution based on foreign ownership and the requirement for entities to maintain accurate documentation.
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