Nature, Purpose, and Duration of Limited Partnership

  1. Law
  2. Tennessee Code
  3. Partnerships
  4. Tennessee Uniform Limited Partnership Act of 2017
  5. General Provisions
  6. Nature, Purpose, and Duration of Limited Partnership

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  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.


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