Stay Informed with the Anthony Law Blog
Regulations and Legal Restrictions on Short-Term Rentals
With the rise of short-term rental platforms like Airbnb, more and more people are renting out their homes and other properties for short periods of time. However, before listing your rental, it's important to check for any regulations or legal restrictions that might apply.
Significant Changes on the Horizon for Ohio LLCs
Senate Bill 276 restates the Ohio Limited Liability Company Act and establishes the Ohio Revised Limited Liability Company Act (ORLLCA). This new law will be fully effective on January 1, 2022. Read on for the most important updates that the ORLLCA will bring.
Ohio Senate Bill 276: Changes for the Ohio Limited Liability Company Act
In early January of this year, Governor Mike DeWine signed into law a new Ohio Limited Liability Company Act under Chapter 1706 of the Ohio Revised Code. Going into effect on January 1, 2022, the Act is intended to make it easier for people to conduct businesses in Ohio. Read on to see the different changes and how you and your business will be affected by the change.
What Happens to My Business if I Die?
In an LLC, the operating agreement typically dictates what happens to a member’s interests when he or she dies or becomes incapable of serving in their current role. If an operating agreement is silent, state law will govern what happens. In some states, a LLC must dissolve upon the death or resignation of a member. In others, including Ohio, the executor of the deceased member’s estate has the power to determine what happens to the business interests. In order to avoid any unforeseen consequences, it is important to make sure that all potential consequences are considered, and that the member’s intentions are clear.