Nature, purpose, and duration of limited partnership

(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.