Ohio Code § 1706.475

Ohio Code § 1706.475. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.

§ 1706.475.

(A) Upon the winding up of a limited liability company, payment or adequate provision

for payment, shall be made to creditors, including members who are creditors, in satisfaction

of liabilities of the limited liability company. (B) After a limited liability company complies with division (A) of this section, any

surplus shall be distributed as follows: (1) First, to each person owning a membership interest that reflects contributions made

on account of the membership interest and not previously returned, an amount equal

to the value of the person's unreturned contributions; (2) Then to each person owning a membership interest in the proportions in which the

owners of membership interests share in distributions before dissolution. (C) If the limited liability company does not have sufficient surplus to comply with

division (B)(1) of this section, any surplus shall be distributed among the owners

of membership interests in proportion to the value of their respective unreturned

contributions.

Source: official Ohio text · Last verified 2026-08-27

At a glance

  • Citation: Ohio Revised Code § 1706.475
  • Jurisdiction: Ohio
  • Code: Ohio Revised Code
  • Text: transcribed from the official source (verify below)

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Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:

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Common questions

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The text above is transcribed from the Ohio Revised Code, the codified statutes of Ohio. The official publisher link appears under "Verify the text" on this page.

What subject does Ohio Revised Code § 1706.475 address?

It addresses the rule set out in the section text. Read the section together with the surrounding provisions listed under "Nearby provisions" for the full picture.

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Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.

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