Ohio § 1706.341
Full text of Ohio Ohio Revised Code § 1706.341, with citation guidance and answers to common questions.
§ 1706.341.
(A) An assignment, in whole or in part, of a membership interest: (1) Is permissible; (2)(a) Does not by itself cause a member to cease to be a member of the limited liability
company; (b) Does not by itself cause a member to cease to be associated with a series of the
limited liability company. (3) Does not by itself cause a dissolution and winding up of the limited liability company,
or a series thereof; (4) Subject to section 1706.332 of the Revised Code , does not entitle the assignee to do either of the following: (a) Participate in the management or conduct of the activities of the limited liability
company, or a series thereof; (b) Have access to records or other information concerning the activities of the limited
liability company, or a series thereof. (B) An assignee has the right to receive, in accordance with the assignment, distributions
to which the assignor would otherwise be entitled. (C) A membership interest may be evidenced by a certificate of membership interest issued
by the limited liability company, or a series thereof. An operating agreement may provide for the assignment of the membership interest
represented by the certificate and make other provisions with respect to the certificate. (D) A limited liability company, or a series thereof, shall not issue a certificate of
membership interest in bearer form. (E) A limited liability company, or a series thereof, need not give effect to an assignee's
rights under this section until the limited liability company, or a series thereof,
has notice of the assignment. (F) Except as otherwise provided in division (J) of section 1706.411 of the Revised Code , when a member assigns a membership interest, the assignor retains the rights of
a member other than the right to distributions assigned and retains all duties and
obligations of a member. (G) When a member assigns a membership interest to a person that is admitted as a member
with respect to the assigned interest, the assignee is only liable for the member's
obligations under section 1706.281 of the Revised Code to the extent that the obligations are known to the assignee when the assignee voluntarily
accepts admission as a member.
Frequently Asked Questions About Ohio § 1706.341
What does Ohio Revised Code § 1706.341 cover?
Section 1706.341 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 § 1706.341?
A common citation format is "Ohio Revised Code § 1706.341" (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 § 1706.341 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.