- (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 the Uniform Limited Partnership Act of 2010 for any lawful purpose.
- (c) A limited partnership has a perpetual duration unless otherwise specified in its certificate of limited partnership.
Laws 2010, SB 1132, c. 384, § 4, eff. January 1, 2011.