Nature, purpose, and duration of limited partnership

179.0110 Nature, purpose, and duration of limited partnership. (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. History: 2021 a. 258.