(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.
Tennessee Legal Code