Ohio Code 1706.061 – Authority of state law over limited liability companies
Current as of: 2024 | Check for updates
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The law of this state governs all of the following:
Terms Used In Ohio Code 1706.061
- Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member: means a person that has been admitted as a member of a limited liability company under section 1706. See Ohio Code 1706.01
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Ohio Code 1706.01
(A) The organization and internal affairs of a limited liability company;
(B) The liability of a member as a member for the debts, obligations, or other liabilities of a limited liability company;
(C) The authority of the members and agents of a limited liability company;
(D) The availability of the assets of a limited liability company or series thereof for the obligations of the limited liability company or another series thereof.