Significant Changes for Ohio Limited Liability Companies Under New Ohio Law

By: Bryan K. Prosek, James C. Carpenter

Published: January 27, 2022

Limited liability companies (LLCs) in Ohio are facing significant changes with a new law, the Ohio Revised Limited Liability Company Act (the Act). The Act becomes effective soon on February 11, 2022. By replacing existing Ohio Revised Code Chapter 1705 with a new Chapter 1706, the Act fully modernizes LLC law in Ohio and provides new mandatory and default rules for LLCs. Ohio business owners who currently have, or may have, an LLC in Ohio should ensure that the operating agreement for their LLC is reviewed by an attorney for compliance with the new Act.

The Act contains several important new provisions, including the following:

Ohio business owners should ensure that their LLC operating agreements and related documents comply with requirements in the new law and that they have taken advantage of protective options in the new law by the time the Act goes into effect. If you have formed, or are considering forming, an LLC in Ohio, please contact the authors or a member of the Steptoe & Johnson Corporate & Transactional Team.

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