TBA Law Blog

Posted by: Allan Ramsaur on May 2, 2017

The TBA’s Tennessee Uniform Limited Partnership Act (TULPA) cleared its last major Senate hurdle today when the Senate Finance Committee recommended it for passage. The bill, sponsored by Sen. Jack Johnson (R-Franklin) and Rep. Ron Travis (R-Dayton), modernizes and harmonizes the provisions of the limited partnership law with other forms of business organization. The bill had to win Finance Committee approval because of a small fiscal note associated with filing fees. With the Finance Committees in both houses appearing to be close to wrapping up the budget, the General Assembly is expected to adjourn for the year early next week.