Ohio § 1783.12
Full text of Ohio Ohio Revised Code § 1783.12, with citation guidance and answers to common questions.
§ 1783.12.
When a limited partnership association is dissolved by the voluntary action of its
members, its property shall be applied as follows: (A) First, to the payment of all its debts for work and labor; and to secure such debts,
in case its property is insufficient, the separate estate of each partner shall be
liable without limitation or exemption, except as provided by law; (B) Second, to the satisfaction of its other liabilities and indebtedness; (C) Third, to distributions among the members, in proportion to their respective interests,
by three liquidating trustees who shall be elected by the members of the association
and who may wind up the concern and distribute the net assets thereof among the members
under the direction of the court of common pleas of the proper county.
Frequently Asked Questions About Ohio § 1783.12
What does Ohio Revised Code § 1783.12 cover?
Section 1783.12 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 § 1783.12?
A common citation format is "Ohio Revised Code § 1783.12" (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 § 1783.12 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.