Ohio § 1706.281
Full text of Ohio Ohio Revised Code § 1706.281, with citation guidance and answers to common questions.
§ 1706.281.
(A) A promise by a member to make a contribution to a limited liability company, or a
series thereof, is not enforceable unless set forth in a writing signed by the member. (B) A member's obligation to make a contribution to a limited liability company, or a
series thereof, is not excused by the member's death, disability, or other inability
to perform personally. If a member does not make a contribution required by an enforceable promise, the
member or the member's estate is obligated, at the election of the limited liability
company, or a series thereof, to contribute money equal to the value of the portion
of the contribution that has not been made. The election shall be in addition to, and not in lieu of, any other rights, including
the right to specific performance, that the limited liability company, or a series
thereof, may have under the operating agreement or applicable law. (C)(1) The obligation of a member to make a contribution to a limited liability company
may be compromised only by consent of all the members. A conditional obligation of a member to make a contribution to a limited liability
company may not be enforced unless the conditions of the obligation have been satisfied
or waived as to or by that member. Conditional obligations include contributions payable upon a discretionary call
of a limited liability company before the time the call occurs. (2) The obligation of a member associated with a series to make a contribution to the
series may be compromised only by consent of all the members associated with that
series. A conditional obligation of a member to make a contribution to a series may not
be enforced unless the conditions of the obligation have been satisfied or waived
as to or by that member. Conditional obligations include contributions payable upon a discretionary call
of that series before the time the call occurs. (3) Division (C)(1) of this section shall not apply to a member's obligation to make
a contribution to a series of a limited liability company.
Frequently Asked Questions About Ohio § 1706.281
What does Ohio Revised Code § 1706.281 cover?
Section 1706.281 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 § 1706.281?
A common citation format is "Ohio Revised Code § 1706.281" (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 § 1706.281 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.