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Client Alerts

New Rules for Ohio LLCs Codify Fiduciary Duties Owed by LLC Members

August 2012
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Your company's operating agreement has changed, and you may not even know it. Effective in May of this year, amendments to Ohio's limited liability company ("LLC") statutes took effect to add a number of rules applicable to every Ohio LLC. As with most of the rules in Ohio's LLC statutes, many of these provisions may be altered by the LLC's operating agreement. However, certain of the new provisions may not be altered by the operating agreement. If you do not want the new rules that may be altered to apply to your Ohio LLC, you should consult an attorney to consider amending your company's operating agreement. Read the entire alert here.

This Client Alert has been prepared by Tucker Ellis LLP for the use of our clients. Although prepared by professionals, it should not be used as a substitute for legal counseling in specific situations. Readers should not act upon the information contained herein without professional guidance.

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