TITLE 30

CORPORATIONS

CHAPTER 25

LIMITED LIABILITY COMPANIES

PART 1

GENERAL PROVISIONS

30-25-108.  NATURE, PURPOSE AND DURATION OF LIMITED LIABILITY COMPANY. (a) A limited liability company is an entity distinct from its member or members.

(b)  A limited liability company may have any lawful purpose.

(c)  A limited liability company has perpetual duration.

History:

[30-25-108, added 2015, ch. 243, sec. 43, p. 875.]