Ohio § 1706.764 Separate asset series-wrongful dissociation from series

Ohio Statutes

§ 1706.764 — Separate asset series-wrongful dissociation from series

Ohio § 1706.764

Title 17Corporations-Partnerships

Ch. 1706Ohio Revised Limited Liability Company Act

This text of Ohio § 1706.764 (Separate asset series-wrongful dissociation from series) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1706.764 (2026).

Text

(A)A person shall not voluntarily dissociate as a member associated with a series.

(B)A person's dissociation from a series is wrongful only if one of the following applies:

(1)The person's dissociation is in breach of an express provision of the operating agreement.

(2)The person is expelled as a member associated with the series by determination of a tribunal under division (E) of section1706.765of the Revised Code.

(3)The person is dissociated as a member associated with a series by becoming a debtor in bankruptcy or making a general assignment for the benefit of creditors.

(C)A person that wrongfully dissociates as a member associated with a series is liable to the series and, subject to section1706.61of the Revised Code, to the other members associated with that series for

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(A) A person shall not voluntarily dissociate as a member associated with a series.

(B) A person's dissociation from a series is wrongful only if one of the following applies:

(1) The person's dissociation is in breach of an express provision of the operating agreement.

(2) The person is expelled as a member associated with the series by determination of a tribunal under division (E) of section1706.765of the Revised Code.

(3) The person is dissociated as a member associated with a series by becoming a debtor in bankruptcy or making a general assignment for the benefit of creditors.

(C) A person that wrongfully dissociates as a member associated with a series is liable to the series and, subject to section1706.61of the Revised Code, to the other members associated with that series for damages caused by the dissociation. The liability is in addition to any other debt, obligation, or liability of the member associated with a series to the series or the other members associated with that series.