Find Laws Find Lawyers Free Legal Forms USA State Laws

OHIO STATUTES AND CODES

1705.48 [Effective Until 9/10/2010] Personal liability.

1705.48 [Effective Until 9/10/2010] Personal liability.

Except as otherwise provided by this chapter or any other provision of the Revised Code, including, but not limited to, sections 3734.908, 5739.33, 5743.57, 5747.07, and 5753.09 of the Revised Code, all of the following apply:

(A) The debts, obligations, and liabilities of a limited liability company, whether arising in contract, tort, or otherwise, are solely the debts, obligations, and liabilities of the limited liability company.

(B) Neither the members of the limited liability company nor any managers of the limited liability company are personally liable to satisfy any judgment, decree, or order of a court for, or are personally liable to satisfy in any other manner, a debt, obligation, or liability of the company solely by reason of being a member or manager of the limited liability company.

(C) Nothing in this chapter affects any personal liability of a member of a limited liability company or any manager of a limited liability company for the member’s or manager’s own actions or omissions.

(D) This chapter does not affect any statutory or common law of this or another state that pertains to the relationship between an individual who renders a professional service and a recipient of that service, including, but not limited to, any contract or tort liability arising out of acts or omissions committed or omitted during the course of rendering the professional service.

Effective Date: 07-01-1994

This section is set out twice. See also § 1705.48, as amended by 128th General Assembly File No. 38, HB 519, § 1, eff. 9/10/2010.

1705.48 [Effective 9/10/2010] Personal liability

Except as otherwise provided by this chapter or any other provision of the Revised Code, including, but not limited to, sections 3734.908, 5739.33, 5743.57, 5747.07, and 5753.02 of the Revised Code, all of the following apply:

(A) The debts, obligations, and liabilities of a limited liability company, whether arising in contract, tort, or otherwise, are solely the debts, obligations, and liabilities of the limited liability company.

(B) Neither the members of the limited liability company nor any managers of the limited liability company are personally liable to satisfy any judgment, decree, or order of a court for, or are personally liable to satisfy in any other manner, a debt, obligation, or liability of the company solely by reason of being a member or manager of the limited liability company.

(C) Nothing in this chapter affects any personal liability of a member of a limited liability company or any manager of a limited liability company for the member’s or manager’s own actions or omissions.

(D) This chapter does not affect any statutory or common law of this or another state that pertains to the relationship between an individual who renders a professional service and a recipient of that service, including, but not limited to, any contract or tort liability arising out of acts or omissions committed or omitted during the course of rendering the professional service.

Amended by 128th General Assembly File No. 38, HB 519, § 1, eff. 9/10/2010.

Effective Date: 07-01-1994

This section is set out twice. See also § 1705.48, effective until 9/10/2010.

Ohio Forms by Issue

Ohio Court Forms
> DUI
> Probate
Ohio Name Change Forms
Ohio Real Estate Forms
Ohio Tax Forms

Ohio Law

Ohio State Laws
    > Ohio Child Support
    > Ohio Child Support Payment Status
    > Ohio Gun Law
    > Ohio Statutes
Ohio Labor Laws
    > Ohio Unemployment
Ohio State
    > Ohio Counties
    > Ohio Zip Codes
Ohio Tax
    > Ohio Sales Tax
    > Ohio State Tax
Ohio Court
    > Brandenburg v. Ohio
    > Mapp v. Ohio
    > Ohio Attorney General
    > Ohio Supreme Court
Ohio Agencies
    > Ohio Department of Corrections
    > Ohio Department of Education
    > Ohio Department of Health
    > Ohio Department of Insurance
    > Ohio Department of Taxation
    > Ohio Department of Transporation
    > Ohio DMV
    > Ohio Secretary of State Business Name Search

Ohio Court Map

Tips