10-32.1-07. Nature, purpose, and duration of a limited liability company
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ND Code › Title 10 › Chapter 10-32.1 › Section 10-32.1-07
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10-32.1-07. Nature, purpose, and duration of a limited liability company
1. A limited liability company is an entity distinct from its members.
2. Except for a nonprofit limited liability company subject to chapter 10-36, which must
comply with that chapter, a limited liability company may have any lawful purpose.
3. A limited liability company has perpetual duration unless stated otherwise in articles of
organization filed with the secretary of state prior to July 1, 2015.
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