Ohio Code § 1776.84
Ohio Code § 1776.84. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1776.84.
(A) A limited liability partnership shall not make a distribution to a partner to the
extent that at the time of the distribution and after giving effect to the distribution,
all liabilities of the limited liability partnership exceed the fair value of the
assets of the limited liability partnership, other than liabilities to partners on
account of their economic interests and liabilities for which the recourse of creditors
is limited to specified property. The fair value of property that is subject to a liability for which the recourse
of creditors is limited shall be included in the assets of the limited liability partnership
only to the extent that the fair value of that property exceeds that liability. For purposes of this section, the term “ distribution ” does not include amounts constituting reasonable compensation for present or past
services or reasonable payments made in the ordinary course of business pursuant to
a bona fide retirement plan or other benefits program. (B) A partner of a limited liability partnership who receives a distribution in violation
of division (A) of this section is liable to the partnership for the amount of that
distribution. This section does not affect any obligation or liability of a partner of a limited
liability partnership under an agreement or other applicable law for the amount of
a distribution.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1776.84
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
Verify the text
Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
What is the source of Ohio Revised Code § 1776.84?
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 § 1776.84 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.
Is Ohio Revised Code § 1776.84 still in force?
Statutes are amended, repealed, and renumbered every session. Confirm the current version at the official Ohio source before relying on this text.
Can this page be used as legal advice?
No. This is a reference transcription for research. Applying Ohio law to your facts requires a licensed Ohio attorney who can review the specifics.