Section 1782.43 | Rights of Legal Representative of Partner.
Effective: October 8, 1992 Latest Legislation: House Bill 427 – 119th General Assembly If a partner who is an individual dies or is adjudged by a court to be an incompetent, as defined in section 2111.01 of the Revised Code, the partner’s executor, administrator, guardian, or other legal representative may exercise all the rights of […]
Section 1782.27 | Contributions of Partner.
Effective: April 1, 1985 Latest Legislation: House Bill 607 – 115th General Assembly The contributions of a partner may be in casy, other property, services rendered, or a promissory note or other obligation to contribute cash or property or to perform services.
Section 1782.28 | Promise of Limited Partner to Contribute to Partnership Not Enforceable Unless Written and Signed.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly (A) A promise by a limited partner to contribute to the limited partnership is not enforceable unless it is set out in a writing signed by the limited partner. (B) Except as otherwise provided in the partnership agreement, a partner is obligated […]
Section 1782.29 | Allocation of Profits and Losses.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly The profits, losses, income, gains, deductions, credits, or similar items of a limited partnership shall be allocated among the partners and classes of partners in the manner provided in writing in the partnership agreement. If the partnership agreement does not so provide […]
Section 1782.30 | Allocation of Distributions.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly Distributions of cash or other assets of a limited partnership shall be allocated among the partners and classes of partners in the manner provided in writing in the partnership agreement. If the partnership agreement does not so provide, distributions shall be made […]
Section 1782.31 | Partner Entitled to Receive Distributions.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly Except as otherwise provided in this chapter, a partner is entitled to receive distributions from a limited partnership before his withdrawal from the limited partnership and before the dissolution and winding up of the partnership only to the extent and at the […]
Section 1782.18 | Voting Rights.
Effective: April 1, 1985 Latest Legislation: House Bill 607 – 115th General Assembly Subject to section 1782.19 of the Revised Code, the partnership agreement may grant to all or a specified group of the limited partners the right to vote, on a per capita or other basis, upon any matter.
Section 1782.32 | Withdrawal of General Partner.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly A general partner may withdraw from a limited partnership at any time by giving written notice to the other partners. If the withdrawal violates the partnership agreement, the limited partnership, in addition to exercising any remedies otherwise available under applicable law, may […]
Section 1782.19 | Rights, Powers, and Liabilities of Limited Partners.
Effective: October 4, 1996 Latest Legislation: House Bill 495 – 121st General Assembly (A) Except as provided in division (D) of this section, a limited partner shall not become liable for the obligations of a limited partnership unless the limited partner is also a general partner or, in addition to the exercise of the limited […]
Section 1782.33 | Withdrawal of Limited Partner.
Effective: November 21, 1997 Latest Legislation: House Bill 170 – 122nd General Assembly (A) Except as provided in division (B) of this section, a limited partner may withdraw from a limited partnership at the time, or upon the happening of events, specified in writing in the partnership agreement. If the partnership agreement does not specify […]