Nature, purpose, and duration of entity.

  1. Law
  2. Oklahoma Statutes
  3. Partnership
  4. Nature, purpose, and duration of entity.

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NATURE, PURPOSE, AND DURATION OF ENTITY.

(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.

Added by Laws 2010, c. 384, § 4, eff. Jan. 1, 2011.


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