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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 1706.26 | Liabilities of limited liability company members.

Ohio Revised Code
/
Title 17 Corporations-Partnerships
/
Chapter 1706 Ohio Revised Limited Liability Company Act
 
Effective:
April 12, 2021
Latest Legislation:
Senate Bill 276 - 133rd General Assembly
PDF:
Download Authenticated PDF
 

A person who is a member of a limited liability company is not liable, solely by reason of being a member, for a debt, obligation, or liability of the limited liability company or a series thereof, whether arising in contract, tort, or otherwise; or for the acts or omissions of any other member, agent, or employee of the limited liability company or a series thereof. The failure of a limited liability company or any of its members to observe any formalities relating to the exercise of the limited liability company's powers or the management of its activities is not a factor to consider in, or a ground for, imposing liability on the members for the debts, obligations, or liability of the limited liability company.

Available Versions of this Section