What is an “obligated member?
Section 86 of Chapter 499 of the Public Acts of 2005, applicable to tax years ending on or after July 1, 2005, amends Tenn. Code Ann. Section 67-4-2004 to define an “obligated member” as follows: Obligated member” means a member or partner of an obligated member entity that is fully liable for the debts, obligations and liabilities of the entity, as provided in ยง 67-4-2008(b), (c) and (d), and that has filed appropriate documentation to that effect with the secretary of state[.
Section 86 of Chapter 499 of the Public Acts of 2005, applicable to tax years ending on or after July 1, 2005, amends Tenn. Code Ann. Section 67-4-2004 to define an “obligated member” as follows: Obligated member” means a member or partner of an obligated member entity that is fully liable for the debts, obligations and liabilities of the entity, as provided in 67-4-2008(b), (c) and (d), and that has filed appropriate documentation to that effect with the secretary of state[.
