(A) Each corporation shall keep correct and complete books and records of account, together with minutes of the proceedings of its incorporators, shareholders, directors, and committees of the directors, and records of its shareholders showing their names and addresses and the number and class of shares issued or ...
If you're looking to start an Ohio LLC, you must file the Articles of Organization with the Ohio Secretary of State. You can download the Articles of Incorporation packet online at the Secretary of State website. Once your Articles of Organization are approved, your LLC is officially formed.
Business entities in Ohio are not required to file an annual report. However, certain types of entities and registrations are required to file reports at different intervals.
(A) Except where the law, the articles, or the regulations require action to be authorized or taken by shareholders, all of the authority of a corporation shall be exercised by or under the direction of its directors.
Corporate bylaws are a company's foundational governing document. They lay out how things should run day-to-day and the processes for making important decisions. They serve as a legal contract between the corporation and its shareholders, directors, and officers and set the protocol for how the organization operates.
Ohio Rev Code § 1701.11 states that a corporation's directors MAY adopt regulations. But Ohio statutes don't explicitly state that bylaws or regulations are required. However, bylaws are essential for a well-functioning corporation.
Corporations must have not less than three directors, unless there are only one or two shareholders. In such case the number of directors may be less than three but not less than the number of shareholders. Residence requirements. Ohio does not have a provision specifying where directors must reside.
(A) The articles of incorporation of an association may be altered or amended at any regular meeting of the association or at any special meeting called for that purpose, provided that the text of the proposed change, or a general description of the change, is contained in the notice of the meeting.