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Nature, purpose and duration of entity

31 M.R.S. §1304
in effect
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1304. Nature, purpose and duration of entity 1. Nature. 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. Purpose. A limited partnership may be organized under this chapter for any lawful purpose. 3. Duration. A limited partnership has a perpetual duration. PL 2005, c. 543, §C2 (NEW).
Source: Maine Legislature, Office of the Revisor of Statutes (legislature.maine.gov)URL: https://legislature.maine.gov/statutes/31/title31sec1304.htmlFetched: 10/20/2026

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