Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When any number of persons, not less than three nor more than twenty-five, desire to form a limited partnership association for the purpose of conducting any business or occupation within the United States or elsewhere, except for dealing in real estate or […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly “Limited” shall be the last word of the name of every limited partnership association formed under sections 1783.01 to 1783.12, inclusive, of the Revised Code. Every such association must paint or affix, and keep painted or affixed, its name on the outside […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly There shall be at least one meeting of the members of a limited partnership association in each year at which not less than three nor more than five managers must be elected, one of whom shall be the chairman, one the treasurer, […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Persons forming a limited partnership association may make contribution to the capital thereof in real or personal estate, mines, or other property, at a valuation to be approved by all the members subscribing to its capital, but in any case one half […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly Interest in a limited partnership association is personal estate, and may be transferred under rules prescribed by the association. Such transfer shall take effect when the instrument transferring the interest is delivered for record, including the names of the parties thereto and […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly All real estate owned or purchased by a limited partnership association shall be held and owned, and conveyance thereof made, in the association name. When such an association executes a deed of conveyance, bonds with or without coupons, or mortgages to secure […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A limited partnership association shall keep a register of debts and liabilities, in which must be entered the nature and amount of all debts and liabilities contracted by it, with the date thereof, together with any payments or credits thereon. Such entry […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly The members of a limited partnership association shall not be liable under any judgment, decree, or order obtained against the association, or for any debt or engagement of the association, further or otherwise than is provided in sections 1783.01 to 1783.06, inclusive, […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly If an execution or other process in the nature of execution has been issued against the property of a limited partnership association, and if there cannot be found sufficient property on which to levy or enforce such process, then such execution or […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A limited partnership association from time to time may divide the profits of its business as a majority of its managers determine. Such division of profits shall not, at the time it is made diminish or impair the capital of the association. […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly A limited partnership association may be dissolved upon either of the following events: (A) When the period fixed for its duration expires; (B) When by a vote of a majority of its members, in value of interest and in number, a dissolution […]
Effective: October 1, 1953 Latest Legislation: House Bill 1 – 100th General Assembly When a limited partnership association is dissolved by the voluntary action of its members, its property shall be applied as follows: (A) First, to the payment of all its debts for work and labor; and to secure such debts, in case its […]
