Ohio Code § 1782.242
Ohio Code § 1782.242. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 1782.242.
No contract, action, or transaction shall be void or voidable with respect to a limited
partnership for the reason that the contract, action, or transaction is among or affects
the limited partnership and one or more of its partners, or that the contract, action,
or transaction is among or affects the limited partnership and any other person in
which one or more of the partners are directors, trustees, officers, or partners,
or have a financial or personal interest, if any of the following applies: (A) The material facts as to the partner or partners and their relationship or interest
and as to the contract, action, or transaction are disclosed in writing to every partner
before that partner is admitted to the partnership. (B) The material facts as to the partner or partners and their relationship or interest
and as to the contract, action, or transaction are disclosed in writing to all partners;
the contract, action, or transaction is fair as to the limited partnership; and
the disinterested general partners acting in good faith reasonably justified by the
facts, authorize the contract, action, or transaction by a majority vote, even though
the disinterested general partners constitute less than a majority of the general
partners. (C) The contract, action, or transaction is fair as to the limited partnership as of
the time the contract, action, or transaction is authorized and approved by a majority
in interest of the disinterested limited partners.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 1782.242
- 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 § 1782.242?
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 § 1782.242 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 § 1782.242 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.