Business Law Section

The Business Law Section furthers the knowledge of its members in the law of the Uniform Commercial Code, banking law, corporate law, partnership law, matters of debtor and creditor relations, and litigation practice related to such law.

Chair
Egerton, McAfee, Armistead &...
P. O. Box 2047
Knoxville, TN 37901-2047
(865)546-0500
Immediate Past Chair
Bass, Berry & Sims PLC
150 Third Ave. S., Suite 2800
Nashville, TN 37201
(615)742-6237
Vice-Chair
Lincoln Memorial University Duncan...
601 W. Summit Hill Dr.
Knoxville, TN 37902
(865)545-5318

Energy Investment Business Fined $170K for Fraud

A former Nashville-based energy investment business was fined $170,000 for selling securities that were not registered; selling securities without being registered as a broker-dealer or an investment adviser; and engaging in a scheme to defraud investors, the Nashville Post reports. The Tennessee Department of Commerce and Insurance Securities Division announced the punishment for Royal Energy of Tennessee and its operator, John G. Westine, today. Westine currently resides in a federal penitentiary due to federal criminal prosecution in Kentucky.
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Uniform Limited Partnership Bill Passes Committee

The Tennessee Uniform Limited Partnership Act of 2017, drafted by a joint committee of the Tennessee Bar Association’s business and tax law sections, passed its first committee today with unanimous support in the House Business and Utilities Subcommittee. This legislation coordinates the limited partnership statute with those governing corporations and limited liability companies, updates the law for limited partnerships to operate in the modern business environment while allowing current limited partnerships to operate under existing law. This bill is the first of the TBA’s legislative package to be on a legislative calendar and is sponsored by Rep. Ron Travis, R-Dayton, in the House and Sen. Jack Johnson, R-Brentwood, in the Senate. You can learn more and show your support via TBAImpact.

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