§1304. Nature, purpose and duration of entity
1.
Nature.
A limited partnership is an entity distinct from its partners. A limited partnership is the same entity regardless of whether its certificate states that the limited partnership is a limited liability limited partnership.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
2.
Purpose.
A limited partnership may be organized under this chapter for any lawful purpose.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
3.
Duration.
A limited partnership has a perpetual duration.
[PL 2005, c. 543, Pt. C, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 543, §C2 (NEW).