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1. www.tuckerellis.com › files › 24615_ohio_legislatureOHIO ADOPTS NEW LIMITED LIABILITY COMPANY ACT - Tucker Ellis LLP

   www.tuckerellis.com › files › 24615_ohio_legislature

   Ohio Revised Code. The New Act significantly updates Ohio’s codified law governing limited liability companies, providing increased opportunities and flexibility for the operation and management of an LLC, and making Ohio a potential home for an LLC with features previously available only in other states. Effective Date. The New Act will ...

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2. www.taftlaw.com › news-events › law-bulletinsThe Ohio Revised LLC Act: What You Need to Know | Law ...

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   Mar 29, 2022 · The Ohio Revised Limited Liability Company Act (the “New Act”) took effect on Feb. 11, 2022. The New Act replaced Chapter 1705 of the Ohio Revised Code with Chapter 1706, thereby redrafting all Ohio statutory LLC law. The New Act is Ohio’s first comprehensive overhaul of its LLC laws since the original LLC Act took effect in 1994.

3. www.ohiobar.org › member-tools-benefits › practiceOhio Rewrites the Law on Limited Liability Companies

   www.ohiobar.org › member-tools-benefits › practice

   Dec 31, 2021 · On Jan. 8, 2021, Ohio Governor Mike DeWine signed into law Senate Bill 276 – the Ohio Revised Limited Liability Company Act. The new Ohio LLC Act is a complete restatement of Chapter 1705 of the Ohio Revised Code (the original Ohio LLC Act) and creates a new Chapter 1706 of the Ohio Revised Code, thereby rewriting all Ohio statutory law regarding limited liability companies.

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4. adwllp.com › the-ohio-revised-limited-liabilityThe Ohio Revised Limited Liability Company Act: What’s New ...

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   Feb 15, 2022 · The Act went into effect on February 11, 2022. Chapter 1706 replaces the current act contained in Chapter 1705. The Act modernizes Ohio’s limited liability company laws, providing clarity, flexibility, and a new type of entity, while retaining the terminology and general structure relied upon in Chapter 1705. Key Changes

5. smdklaw.com › news › moving-forward-what-ohiosWhat Ohio's Revised Limited Liability Company Act Means for ...

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   Feb 11, 2022 · On January 8, 2021, Governor Mike DeWine signed the Ohio Revised Limited Liability Company Act (the “Revised Act”) into law. The Revised Act replaces the existing Ohio Limited Liability Company Act (the “Old Act”) under Ohio Revised Code (“R.C.”) Chapter 1705 with a new Chapter 1706. Effective February 11, 2022 the Revised Act applies to all limited liability companies (“LLCs ...

6. wegmanlaw.com › wp-content › uploadsCorporate Update - Changes in Ohio Limited Liability Company Laww

   wegmanlaw.com › wp-content › uploads

   Dec 12, 2021 · ISSUE DATE 12/8/2021 . 6055 Rockside Woods Blvd, Suite 200, Cleveland, Ohio 44131 (216) 642-3342 | www.wegmanlaw.com. Wegman Hessler Client Alert . Jacob E. Debus Ohio’s Limited Liability Company law, as it exists in Ohio Revised Code (“ORC”) Section 1705 (the “Original Act”), was originally enacted in 1994.

7. People also ask

   What is the new Ohio limited liability company Act?

   • On January 8, Ohio Governor Mike DeWine signed into law the Ohio Revised Limited Liability Company Act (the “New Act”). The New Act completely replaces the existing Ohio Limited Liability Company Act (Chapter 1705 of the Ohio Revised Code) with new Chapter 1706 of the Ohio Revised Code.

   OHIO ADOPTS NEW LIMITED LIABILITY COMPANY ACT - Tucker Ellis LLP

   www.tuckerellis.com/files/24615_ohio_legislature_adopts_new_limited_liability_company_act_february_2021.pdf

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   When does the new Ohio LLC Act come into effect?

   • The New Act will become effective on April 12, 2021, but it is not applicable to LLCs until January 1, 2022. On and after January 1, 2022, the New Act will govern all LLCs formed (or qualified to do business as foreign LLCs) in Ohio, regardless of whether the LLC was formed or qualified before or after that date.

   OHIO ADOPTS NEW LIMITED LIABILITY COMPANY ACT - Tucker Ellis LLP

   www.tuckerellis.com/files/24615_ohio_legislature_adopts_new_limited_liability_company_act_february_2021.pdf

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   What is Ohio's New LLC law?

   • Unlike Ohio’s current LLC law, the New Act permits a person to be a member of an LLC without making any asset or capital contribution to the LLC or having any economic interest in the LLC. The New Act also permits an operating agreement to provide enforceable rights to third parties who are not members of the LLC.

   OHIO ADOPTS NEW LIMITED LIABILITY COMPANY ACT - Tucker Ellis LLP

   www.tuckerellis.com/files/24615_ohio_legislature_adopts_new_limited_liability_company_act_february_2021.pdf

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   Who drafted the Ohio LLC Act?

   • Although the new Ohio LLC Act has been primarily drafted by the Limited Liability Company Subcommittee of the Corporation Law Committee, input and feedback has been provided by a number of other OSBA committees, including the Estate Planning, Trust and Probate Law Section and the Corporate Counsel Section.

   Ohio Rewrites the Law on Limited Liability Companies

   www.ohiobar.org/member-tools-benefits/practice-resources/practice-library-search/practice-library/2021-ohio-lawyer/ohio-rewrites-the-law-on-limited-liability-companies/

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   What is the new Ohio LLC Act sb276?

   • The new Ohio LLC Act – SB276 – provides greater consistency and clarity and includes modern advancements that sophisticated investors require in order to accurately and predictably provide for the intended legal relationships among co-owners.

   Ohio Rewrites the Law on Limited Liability Companies

   www.ohiobar.org/member-tools-benefits/practice-resources/practice-library-search/practice-library/2021-ohio-lawyer/ohio-rewrites-the-law-on-limited-liability-companies/

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   Will there be additional changes to Ohio's business entities?

   • There may be additional changes to Ohio’s business entities in the near future. The Ohio State Bar Association’s Corporation Law Committee has indicated its intention to propose amendments to modernize Chapter 1701 of the Ohio Revised Code, which governs Ohio corporations.

   The Ohio Revised LLC Act: What You Need to Know

   www.taftlaw.com/news-events/law-bulletins/the-ohio-revised-llc-act-what-you-need-to-know/

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8. leijianglaw.com › blog › 2021/03/05OHIO ADOPTS NEW LIMITED LIABILITY COMPANY ACT

   leijianglaw.com › blog › 2021/03/05

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   Mar 5, 2021 · The New Act completely replaces the existing Ohio Limited Liability Company Act (Chapter 1705 of the Ohio Revised Code) with new Chapter 1706 of the Ohio Revised Code. The New Act significantly updates Ohio’s LLC law, providing increased opportunities and flexibility. This could make Ohio a potential favorable home for an LLC.