1. Distinct entity. A limited liability company is an entity distinct from its members. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 2. Any lawful purpose. A limited liability company may have any lawful purpose, regardless of whether for profit. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).] 3. Duration. A limited liability company has perpetual duration. [PL 2009, c. 629, Pt. A, §2 (NEW); PL 2009, c. 629, Pt. A, §3 (AFF).]
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