§ 48-101-808. Conversion of Subsidiary Nonprofit Corporations
A subsidiary nonprofit corporation incorporated in this state may be converted to a domestic nonprofit LLC pursuant to this section. The terms and conditions of a conversion of a subsidiary nonprofit corporation to a domestic nonprofit LLC must be approved by the board of directors of the subsidiary nonprofit corporation and the parent nonprofit corporation. […]
§ 48-101-809. Applicability of Part — Election to Be Governed by Part
This part applies to: Every domestic nonprofit LLC formed on or after July 1, 2006; and Any domestic nonprofit LLC that was formed prior to July 1, 2006, and that has elected to be governed by the Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, pursuant to § 48-249-1002. If […]
§ 48-101-901. Short Title
This part shall be known and may be cited as the “Neighborhood Preservation Nonprofit Corporation Act.”
§ 48-101-902. Part Definitions
As used in this part: “Bylaws” means the code or codes of rules, other than the charter, adopted pursuant to Chapters 51 68 of this title for the regulation or management of the affairs of the corporation irrespective of the name or names by which such rules are designated; “Corporation” means a public benefit or […]
§ 48-101-903. Registration of Neighborhood Preservation Nonprofit Corporation — Filing of Plat for Subject Real Property
A corporation seeking designation as a neighborhood preservation nonprofit corporation under this part shall register with the secretary of state by requesting the designation of neighborhood preservation nonprofit corporation in its charter. In addition to any other fee for registering the corporation pursuant to applicable law, the secretary of state may also require a fee […]
§ 48-101-904. Required Contents of Bylaws for Designation as Neighborhood Preservation Nonprofit Corporation
In order to qualify for the designation as a neighborhood preservation nonprofit corporation under this part, a corporation shall first include in its bylaws: That all members shall be owners of real property located within the area designated in the plat described in § 48-101-903(c); That decisions of the corporation involving the protection or preservation […]
§ 48-101-905. Eligibility for Housing Trust Fund Competitive Grants and Other Applicable Grants — Assistance of Housing Development Agency in Applying for Grants
Notwithstanding any law to the contrary, a corporation that receives a designation as a neighborhood preservation nonprofit corporation shall be eligible to apply for and receive housing trust fund competitive grants and any other applicable grants from the Tennessee housing development agency; provided, that the corporation meets all requirements for the grants. Upon request from […]
§ 48-101-906. Reports of Suspicious Activity to Law Enforcement in Area Designated in Subject Plat
Notwithstanding any law to the contrary, an individual member of a neighborhood preservation nonprofit corporation may report suspected suspicious activity to the local law enforcement entity responsible for the area designated in the plat described in § 48-101-903(a). The local law enforcement entity is encouraged to investigate the reported activity and may provide a report […]
§ 48-101-907. Compliance With Federal Law
This part shall be interpreted so as to be fully consistent with applicable federal law.
§ 48-101-802. Part Definitions
As used in this part, unless the context otherwise requires: “LLC” means a limited liability company, whether foreign or domestic, that is formed under, that is subject to, or that has elected to be governed by, as applicable, the Tennessee Revised Limited Liability Company Act, compiled in chapter 249 of this title, except where expressly […]