§10A-9-1.04. Nature, purpose, and duration of entity.

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(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 be organized under this chapter for any lawful purpose except a banking or insurance business.

(c) A limited partnership has a perpetual duration.

(Act 2009-621, p. 1805, §1.)

                    
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