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.
Nature, purpose, and duration of a limited liability company
N.D.C.C. § 10-32.1-07 — under Uniform Limited Liability Company Act.
N.D.C.C. § 10-32.1-07