Ohio Standard Provision to Limit Changes in a Partnership Entity

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Multi-State
Control #:
US-OL203A
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Description

This office lease provision refers to a tenant that is a partnership or if the tenant's interest in the lease shall be assigned to a partnership. Any such partnership, professional corporation and such persons will be held by this provision of the lease.

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FAQ

Section 5589.01 | Obstructing public grounds, highway, street, or alley. No person shall obstruct or encumber by fences, buildings, structures, or otherwise, a public ground, highway, street, or alley of a municipal corporation.

A new statute, modeled after the Revised Uniform Partnership Act of 1997 (RUPA) and codified as chapter 1776 of the Ohio Revised Code, governs any new Ohio general partnerships formed since the beginning in 2009.

Ohio Revised Code section 1701.591 requires close corporations to have a close corporation agreement. This agreement must be approved by every single shareholder of the company.

Ohio Revised Code Section 1776.22 provides that, except as formed under a chapter other than 1776, ?any association of two or more persons to carry on as co-owners a business for- profit forms a partnership, whether or not the persons intend to form a partnership.? A partnership is not required, but may elect to file ...

Section 1701.86 | Voluntary dissolution. (A) A corporation may be dissolved voluntarily in the manner provided in this section, provided the provisions of Chapter 1704.

"I, (name), do solemnly swear that I will support the Constitution of the United States and the Constitution of Ohio, will administer justice without respect to persons, and will faithfully and impartially discharge and perform all of the duties incumbent upon me as (name of office) ing to the best of my ability ...

The termination of any action, suit, or proceeding by judgment, order, settlement, or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner the person reasonably believed to be in or not opposed to the best ...

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Ohio Standard Provision to Limit Changes in a Partnership Entity