Ohio § 1706.05
Full text of Ohio Ohio Revised Code § 1706.05, with citation guidance and answers to common questions.
§ 1706.05.
(A) A limited liability company may carry on any lawful activity, whether or not for
profit. (B) A limited liability company shall possess and may exercise all the powers and privileges
granted by this chapter or by any other law or by its operating agreement, together
with any powers incidental thereto, including those powers and privileges necessary
or convenient to the conduct, promotion, or attainment of the business, purposes,
or activities of the limited liability company. (C) Without limiting the general powers enumerated in division (B) of this section, a
limited liability company shall have the power and authority to make contracts of
guaranty and suretyship and enter into interest rate, basis, currency, hedge, or other
swap agreements, or cap, floor, put, call, option, exchange, or collar agreements,
derivative agreements, or other agreements similar to any of the foregoing. (D) A series established under this chapter has the power and capacity, in the series'
own name, to do all of the following: (1) Sue and be sued; (2) Contract; (3) Hold and convey title to assets of the series, including real property, personal
property, and intangible property; (4) Grant liens and security interests in assets of the series.
Frequently Asked Questions About Ohio § 1706.05
What does Ohio Revised Code § 1706.05 cover?
Section 1706.05 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1706.05?
A common citation format is "Ohio Revised Code § 1706.05" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1706.05 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.