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Ohio Revised Code Title XVII. Corporations Partnerships § 1706.76

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Ohio Revised Code Title XVII. Corporations Partnerships § 1706.76 - last updated January 01, 2024 | https://codes.findlaw.com/oh/title-xvii-corporations-partnerships/oh-rev-code-sect-1706-76/

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