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How does Jordana Nelson's prior experience as a general counsel inform her work with firm clients? Read more>

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The M&A Advisor Winner 2017The M&A Advisor announced the winners of the 16th Annual M&A Advisor Awards on Monday, November 13 at the 2017 M&A Advisor Awards. Bass, Berry & Sims was named a winner in the two categories related to the following deals:

M&A Deal of the Year (from $1B-$5B) – Acquisition of CLARCOR Inc. by Parker Hannifin Corporation

Corporate/Strategic Deal of the Year (over $1B) – Acquisition of BNC Bancorp by Pinnacle Financial Partners

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Regulation A+

It seems that lately there has been a noticeable uptick in Regulation A+ activity, including several recent Reg A+ securities offerings where the stock now successfully trades on national exchanges. In light of this activity, we have published a set of FAQs about Regulation A+ securities offerings to help companies better understand this "mini-IPO" offering process, as well as pros and cons compared to a traditional underwritten IPO.

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Brian Dobbs Outlines Retainage and Licensing Obligations for Tennessee Contractors

Nashville Business Journal

Publications

November 17, 2017

Bass, Berry & Sims attorney Brian Dobbs authored an article for the Nashville Business Journal highlighting two key laws that contractors in Tennessee must consider amid the current development boom: retainage and licensing. While many may believe that only general contractors and those performing physical construction must be licensed, Tennessee law defines "contractor" more broadly as any person or entity that supervises, oversees, schedules, directs or assumes charge of a project valued at $25,000 or greater. This could even include project owners who don't have a license, and contracting without a license is subject to fines and penalties by the licensing board – not to mention a potential suspension of the project.

Retainage is another issue that requires compliance and could lead to misdemeanor charges and even a fine of $3,000 for each day of noncompliance – as well as a $300 per day civil penalty. Retainage is an amount withheld form a contract price to ensure completion of a project, and in Tennessee, that fee may not exceed five percent of the contract price. For projects where the prime contract is more than $500,000, retainage must be deposited into a separate, interest bearing escrow account with a third party

The full article, "Consider these Laws Before Building," was published online and in the print editions of the Nashville Business Journal on November 17, 2017. You may use the link to access the online version of the content.


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