1. A limited partnership is an entity distinct from its partners. 2. A limited partnership may be organized under this chapter for any lawful purpose except banking or insurance. 3. A limited partnership has a perpetual duration unless otherwise provided in its certificate of limited partnership.
(104) Nature, purpose, and duration of entity
N.D.C.C. § 45-10.2-07 — under Uniform Limited Partnership Act.
N.D.C.C. § 45-10.2-07