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Revises limited liability company law

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To amend sections 1701.56, 1701.64, 1705.081, 1705.161, 1705.281, 1705.30, and 1705.48 and to enact sections 1701.641, 1705.031, 1705.291, and 1705.292 of the Revised Code to prescribe the fiduciary duties of corporate and limited liability company officers, to specify that officers are not required for limited liability companies, to permit a written waiver or elimination of the fiduciary duties of limited liability company members, managers, or officers, to clarify when a limited liability company manager's or officer's duties can be the same as a member's duties, to declare the policy of the Limited Liability Company Law generally to give maximum effect to freedom of contract, and to make other changes regarding corporations and limited liability companies.

Current Version

As Enrolled PDF

Effective Date

July 6, 2016

Introduced In House Checked Introduced In House
In House Committee Checked In House Committee
Reported By Committee Checked Reported By Committee
Passed By House Checked Passed By House
Introduced In Senate Checked Introduced In Senate
In Senate Committee Checked In Senate Committee
Reported By Committee Checked Reported By Committee
Passed By Senate Checked Passed By Senate
Signed By The Governor Checked Signed By The Governor



Primary Sponsors

Larry Obhof
Joseph Schiavoni
Joseph Schiavoni


Kevin Bacon
Bill Beagle
Edna Brown
Dave Burke
William P. Coley, II
John Eklund
Jim Hughes
Shannon Jones
Frank LaRose
Peggy Lehner
Gayle Manning
Scott Oelslager
Thomas F. Patton
Tom Sawyer
William Seitz
Charleta B. Tavares
Cecil Thomas
Kenny Yuko
Ron Amstutz
Marlene Anielski
Niraj J. Antani
Nan A. Baker
Louis W. Blessing III
John Boccieri
Tony Burkley
Jim Butler
Nicholas Celebrezze
Jonathan Dever
Michael D. Dovilla
Mike Duffey
Doug Green
Christina Hagan
David Hall
Stephen D. Hambley
Stephanie Kunze
Nathan H. Manning
Robert McColley
Rick Perales
Jeffery S. Rezabek
John M. Rogers
Mark J. Romanchuk
Gary Scherer
Michael Sheehy
Robert Cole Sprague
Andy Thompson
Ron Young

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The online versions of legislation provided on this website are not official. Enrolled bills are the final version passed by the Ohio General Assembly and presented to the Governor for signature. The official version of acts signed by the Governor are available from the Secretary of State's Office in the Continental Plaza, 180 East Broad St., Columbus.