TITLE 30

CORPORATIONS

CHAPTER 24

LIMITED PARTNERSHIPS

PART 1

GENERAL PROVISIONS

30-24-110.  NATURE, PURPOSE AND DURATION OF LIMITED PARTNERSHIP. (a)  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.

(b)  A limited partnership may have any lawful purpose.

(c)  A limited partnership has perpetual duration.

History:

[30-24-110, added 2015, ch. 243, sec. 33, p. 843.]