48-249-1014 - Penalty for transacting business in Tennessee in violation of articles.
48-249-1014. Penalty for transacting business in Tennessee in violation of articles.
In the event an LLC is prohibited from transacting business in this state by its articles but actually transacts business in this state, and, but for § 48-249-1007(d), the LLC would have paid a larger initial or annual filing fee under § 48-249-1007(d), the LLC shall be fined an amount equal to three (3) times the initial or annual filing fee, less the amount actually paid, for each year, or part of each year, in which it actually transacts business in this state.
[Acts 2005, ch. 286, § 1.]