Nature, purpose, and duration of limited partnership
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TN Code › Title 61 › Chapter 3 › Section 61-3-109
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(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 have any lawful purpose, regardless of whether for profit. (c) A limited partnership has perpetual duration. Added by 2017 Tenn. Acts, ch. 440,s 1, eff. 1/1/2018.
(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 have any lawful purpose, regardless of whether for profit.
(c) A limited partnership has perpetual duration.
Added by 2017 Tenn. Acts, ch. 440,s 1, eff. 1/1/2018.
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