A new Ohio LLC statute will bring flexibility in structuring the management of a limited liability company formed in Ohio.

In May 2021, we reported that the U.S. Senate had passed a joint resolution declaring the OCC’s “true lender” rule invalid. That resolution has since been passed by the House and, on June 30, 2021, was signed by President Biden.

When establishing or revisiting the management of your business organization or any private business organization you invest in, it is vital that you consider what duties the owners and managers of the business will owe to each other.

Tucker Ellis represented Ampex Brands – a Yum! Brands Inc. and 7-Eleven franchisee with more than 400 Pizza Hut, KFC, Taco Bell, Long John Silver's and 7-Eleven locations – in its June 29 acquisition of bakery-café chain Au Bon Pain from Panera Bread.

In the first of four rankings to be released, IFLR1000, the guide to the world's leading financial and corporate law firms and lawyers, has ranked Tucker Ellis in its 31st edition in the area of Banking (United States Regional: Ohio). 

Beginning January 1, 2022, a limited liability company formed in Ohio can be organized as a series LLC.

The latest development in the saga of the “valid-when-made” debate came on May 11, 2021, when the Senate passed a joint resolution declaring the OCC’s "true lender" rule invalid.

On January 8, Ohio Governor Mike DeWine signed into law the Ohio Revised Limited Liability Company Act.

Tucker Ellis represented Performance Trust Capital Partners, LLC as placement agent in connection with the issuance of $15 million in 10-year fixed-to-floating rate subordinated notes by Attica, Ohio-based Sutton Bancshares, Inc., holding company for Sutton Bank. 

On August 20, 2020, state attorneys general sued the Federal Deposit Insurance Corporation to invalidate the FDIC’s new rule that mirrors the Office of the Comptroller of the Currency's "valid-when-made" rule.