35-12-509. Nature, purpose, and duration of entity. (1) A limited partnership is an entity distinct from its partners' 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 be organized under this chapter for any lawful purpose.
(3) A limited partnership has a perpetual duration.
History: En. Sec. 9, Ch. 522, L. 1981; amd. Sec. 7, Ch. 216, L. 2011.