Nature, Purpose, And Duration Of Limited Liability Company.

  1. Law
  2. Minnesota Statutes
  3. Business, Social, And Charitable Organizations
  4. Minnesota Revised Uniform Limited Liability Company
  5. Nature, Purpose, And Duration Of Limited Liability Company.

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Subdivision 1. Separate entity. A limited liability company is an entity distinct from its members.

Subd. 2. Permitted purposes. Except for a nonprofit limited liability company subject to section 322C.1101, which must comply with that section, a limited liability company may have any lawful purpose.

Subd. 3. Duration. A limited liability company has perpetual duration.

History:

2014 c 157 art 1 s 4


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