On January 8, 2021, Governor Mike DeWine enacted the Ohio Revised Limited Liability Company Act (“Revised Act”). The Revised Act, which repealed and replaced Chapter 1705 of the Ohio Revised Code (“Original Act”) with the new Chapter 1706, went into effect on February 11, 2022, and is the first comprehensive overhaul of the Original Act since its enactment in 1994. Largely based on the American Bar Association’s Prototype Limited Liability Company Act, the Revised Act is product of the combined efforts of the Ohio State Bar Association and state lawmakers, including primary bill sponsors Senator Kristina Roegner (R-Hudson) and Nathan Manning (R-North Ridgeville).
