(a) A plan of merger is not effective unless the plan has been approved: (1) By a domestic merging limited partnership, the affirmative vote or consent of all general partners and of limited partners owning a majority of the rights to receive distributions as limited partners at the time the vote or consent is to be effective; and(2) In a record, by each partner of a domestic merging limited partnership that will have interest holder liability for debts, obligations, and other liabilities that are incurred after the merger becomes effective, unless: (A) The partnership agreement of the partnership provides in a record for the approval of a merger in which some or all of its partners become subject to interest holder liability by the affirmative vote or consent of fewer than all the partners; and(B) The partner consented in a record to or voted for that provision of the partnership agreement or became a partner after the adoption of that provision.(b) A merger involving a domestic merging entity that is not a limited partnership is not effective unless the merger is approved by that entity in accordance with the entity's organic law.(c) A merger involving a foreign merging entity ging entity that is not a limited partnership is not effective unless the merger is approved by that entity in accordance with the entity's organic law.(c) A merger involving a foreign merging entity is not effective unless the merger is approved by the foreign entity in accordance with the law of the foreign entity's jurisdiction of formation.Added by 2017 Tenn. Acts, ch. 440,s 1, eff. 1/1/2018.
Tennessee Legal Code