General Assembly

131

Short Title

Revises limited liability company law 
Show Long Title
Long Title 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.

Version

As Enrolled

Legislation Text

View Current Version

Effective Date

July 6, 2016

Committees

House Judiciary Committee
Senate Civil Justice Committee
 
 

Primary Sponsors

Larry Obhof
Joe Schiavoni
 

Cosponsors

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