Ohio Rev. Code § 1705.18

Current with legislation from 2024 received as of August 15, 2024.

Section 1705.18 - [Repealed]

R.C. § 1705.18

Amended by 134th General Assembly, HB 110,§610.1165, eff. 9/30/2021.

Repealed by 133rd General Assembly, SB 276,§3, eff. 1/1/2022.

Amended by 129th General Assembly, HB 48, §1, eff. 5/4/2012.

Effective Date: 10-04-1996 .

Committee Comment (2012)*

New Division (B) makes express existing Ohio law, and is not a change, that a substitute member or an assignee is bound by the terms of the operating agreement. Since the successor's rights cannot be greater than the rights of the member from whom the successor acquired its interest, the successor is subject to the terms of the operating agreement even if the successor has not executed the operating agreement.

*Comments on 129th General Assembly, HB 48, from the Ohio State Bar Association Corporation Law Committee