Article
Tennessee Supreme Court Keeps Nonlawyer Ownership Rules, Loosens ABA Accreditation Requirement
The Tennessee Supreme Court has declined to modify its traditional Rule 5.4 framework, maintaining restrictions on nonlawyer ownership of law firms and fee-sharing arrangements. While management service organization (MSO) structures remain the compliant vehicle for outside capital investment, the court has simultaneously loosened ABA accreditation requirements and established task forces to explore alternative licensure pathways...
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