2020 Ohio Revised Code
Title 17 | Corporations-Partnerships
Chapter 1706 | Ohio Revised Limited Liability Company Act
Section 1706.76 | Separate Asset Series-Designation by Operating Agreement.
Effective: April 12, 2021
Latest Legislation: Senate Bill 276 - 133rd General Assembly
(A) An operating agreement may establish or provide for the establishment of one or more designated series of assets that has both of the following:
(1) Either or both of the following:
(a) Separate rights, powers, or duties with respect to specified property or obligations of the limited liability company or profits and losses associated with specified property or obligations;
(b) A separate purpose or investment objective.
(2) At least one member associated with each series.
(B) A series established in accordance with division (A) of this section may carry on any activity, whether or not for profit.