(1) 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. (2) A limited partnership may have any lawful purpose, regardless of whether for profit. (3) A limited partnership has perpetual duration. Renumbered and Amended by Chapter 93, 2026 General Session Renumbered 10/1/2026
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