Section 1782.35 | Distributions.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly Except as provided in writing in the partnership agreement, a partner, regardless of the nature of this contribution, shall have no right to demand and receive any distribution from a limited partnership in any form other than cash. Except as provided in […]
Section 1782.22 | Additional General Partners.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly After the filing of a limited partnership’s original certificate of limited partnership, additional general partners may be admitted as provided in writing in the partnership agreement or, if the partnership agreement does not provide in writing for the admission of additional general […]
Section 1782.23 | Person Ceases to Be a General Partner – When.
Effective: July 1, 1994 Latest Legislation: Senate Bill 74 – 120th General Assembly Except as approved by the specific written consent of all partners at the time, a person ceases to be a general partner of a limited partnership upon the happening of any of the following events of withdrawal: (A) The general partner withdraws […]
Section 1782.24 | General Partner – Rights and Powers.
Effective: January 1, 2007 Latest Legislation: House Bill 416 – 126th General Assembly (A) Except as otherwise provided in this chapter, the partnership agreement, or section 5815.35 of the Revised Code, a general partner of a limited partnership shall have all the rights and powers and be subject to all the restrictions and liabilities of […]
Section 1782.241 | Care Owed by General Partner.
Effective: July 5, 2002 Latest Legislation: House Bill 349 – 124th General Assembly (A) A general partner shall perform the duties of a general partner in good faith, in a manner the general partner reasonably believes to be in or not opposed to the best interests of the limited partnership, and with the care that […]
Section 1782.242 | Effect of Self-Dealing.
Effective: July 5, 2002 Latest Legislation: House Bill 349 – 124th General Assembly No contract, action, or transaction shall be void or voidable with respect to a limited partnership for the reason that the contract, action, or transaction is among or affects the limited partnership and one or more of its partners, or that the […]
Section 1782.25 | Person May Be Both General and Limited Partner.
Effective: April 1, 1985 Latest Legislation: House Bill 607 – 115th General Assembly A general partner of a limited partnership may make contributions to, and share in the profits and losses of and in distributions from, the limited partnership as a general partner. A general partner also may make contributions to, and share in the […]
Section 1782.26 | Voting Rights of General Partners.
Effective: April 1, 1985 Latest Legislation: House Bill 607 – 115th General Assembly The partnership agreement may grant to all or certain identified general partners the right to vote, on a per capita or any other basis, separately or with any class of the limited partners, on any matter.
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 […]