Nature, purpose, and duration of limited liability company.
Effective Mar 5, 2013July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(h)(2)(C), 59 DCR 13171
- (a) A limited liability company is an entity distinct from its member or members.
- (b) A limited liability company may have any lawful purpose, regardless of whether for profit.
- (c) A limited liability company shall have 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 Company Act (2006 Act).
History
July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720
Mar. 5, 2013, D.C. Law 19-210, § 2(h)(2)(C), 59 DCR 13171
Effect of Amendments
The 2013 amendment by D.C. Law 19-210 substituted “member or members” for “members” in (a).