Ohio § 1782.20
Full text of Ohio Ohio Revised Code § 1782.20, with citation guidance and answers to common questions.
§ 1782.20.
(A) Except as provided in division (C) of this section, when no certificate of limited
partnership has been filed, a person who contributes to a business enterprise and
who erroneously but in good faith believes that the person has become a limited partner
in the enterprise is not a general partner in the enterprise and is not bound by its
obligations by reason of making the contribution, receiving distributions from the
enterprise, or exercising any rights of a limited partner, if, within a reasonable
time after ascertaining the mistake, the person does either of the following: (1) Causes an appropriate certificate of limited partnership to be executed and filed; (2) Takes the action that is necessary to withdraw from the enterprise under the provisions
of Chapter 1775. or 1776. of the Revised Code. (B) Except as provided in division (C) of this section, when a certificate of limited
partnership has been filed, a person who contributes to a business enterprise and
who erroneously but in good faith believes that the person has become a limited partner
in the enterprise is not a general partner in the enterprise and is not bound by its
obligations by reason of making the contribution, receiving distributions from the
enterprise, or exercising any rights of a limited partner, if, within a reasonable
time after ascertaining that the filed certificate of limited partnership inaccurately
refers to the person as a general partner, the person does any of the following: (1) Causes an appropriate certificate of amendment to be executed and filed amending
the filed certificate of limited partnership; (2) Takes such action as is necessary to withdraw from the enterprise under the provisions
of section 1782.32 of the Revised Code ; (3) Executes and files a certificate of disclaimer of general partner status, together
with a copy of the certificate of limited partnership that inaccurately refers to
the person as a general partner, in the office of the secretary of state and provides
to the partnership a copy of that certificate of disclaimer. A certificate of disclaimer of general partner status shall be on a form prescribed
by the secretary of state and shall include all of the following: (a) The name of the limited partnership and the file number assigned to it by the secretary
of state; (b) The date of the filing that inaccurately refers to the person as a general partner; (c) The name of the person who inaccurately was referred to as a general partner. (C) A person who makes a contribution of the kind described in division (A) or (B) of
this section and who knew or should have known either that no certificate of limited
partnership has been filed or that a certificate of limited partnership has been filed
that inaccurately refers to the person as a general partner is liable as a general
partner to any third party who actually believed in good faith that the person was
a general partner, but only to the extent that the third party acted in reasonable
reliance on that belief and extended credit to the partnership in reasonable reliance
on the credit of the person. (D) If a person who has filed a certificate of disclaimer of general partner status pursuant
to division (B)(3) of this section becomes aware that any statement in the certificate
of disclaimer was materially false when made or that any arrangement or other fact
described in the certificate has changed and that the certificate of disclaimer thus
is materially inaccurate, the person promptly shall execute and file a certificate
of cancellation of disclaimer of general partner status in the office of the secretary
of state and provide a copy of that certificate of cancellation of disclaimer of general
partner status to the partnership. The certificate of cancellation of disclaimer of general partner status shall be
on a form prescribed by the secretary of state and shall include all of the following: (1) The name of the limited partnership and the file number assigned to it by the secretary
of state; (2) The date on which the certificate of disclaimer of general partner status in question
was filed; (3) The name of the person identified on the certificate of disclaimer of general partner
status pursuant to division (B)(3)(c) of this section.
Frequently Asked Questions About Ohio § 1782.20
What does Ohio Revised Code § 1782.20 cover?
Section 1782.20 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 § 1782.20?
A common citation format is "Ohio Revised Code § 1782.20" (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 § 1782.20 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.