Effective: October 1, 1953
Latest Legislation: House Bill 1 - 100th General Assembly
A limited partnership association from time to time may divide the profits of its business as a majority of its managers determine. Such division of profits shall not, at the time it is made diminish or impair the capital of the association. Anyone consenting to a dividend which diminishes or impairs the capital shall be liable to any person injured thereby, to the amount of such diminution or impairment.
Structure Ohio Revised Code
Title 17 | Corporations-Partnerships
Chapter 1783 | Limited Partnership Associations
Section 1783.01 | Limited Partnership Associations.
Section 1783.02 | Name of Firm.
Section 1783.03 | Control and Management.
Section 1783.04 | Members May Contribute Capital in Property Rather Than in Cash.
Section 1783.05 | Transferability of Interest.
Section 1783.06 | Title to Realty, Conveyancing, and Judicial Proceedings to Be in Firm Name.
Section 1783.07 | Record of Debts and Liabilities.
Section 1783.08 | Liability of Members.
Section 1783.09 | Levy on Individual Property of Members.