Nature, purpose, and duration of entity.
Effective Mar 5, 2013July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(g)(2)(B), 59 DCR 13171
- (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 formed under this chapter for any lawful purpose, regardless of whether for profit.
- (c) A limited partnership shall have a perpetual duration.
Editor's Notes
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
Uniform Law: This section is based on § 104 of the Uniform Limited Partnership Act (2001 Act).
History
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720
Mar. 5, 2013, D.C. Law 19-210, § 2(g)(2)(B), 59 DCR 13171
Effect of Amendments
The 2013 amendment by D.C. Law 19-210, in (b), substituted “formed” for “organized” and added “regardless of whether for profit.”
Section References
This section is referenced in § 29-711.01.