Statutes > Idaho Statutes > TITLE 30 CORPORATIONS > CHAPTER 6 IDAHO UNIFORM LIMITED LIABILITY COMPANY ACT > PART 1. GENERAL PROVISIONS > 30-6-104 NATURE, PURPOSE AND DURATION OF LIMITED LIABILITY COMPANY.

30-6-104 NATURE, PURPOSE AND DURATION OF LIMITED LIABILITY COMPANY.

TITLE 30

CORPORATIONS

CHAPTER 6

IDAHO UNIFORM LIMITED LIABILITY COMPANY ACT

PART 1.

GENERAL PROVISIONS

30-6-104. Nature, purpose and duration of limited liability company. (1) A limited liability company is an entity distinct from its members.

(2) A limited liability company may have any lawful purpose.

(3) A limited liability company has perpetual duration.

(4) A limited liability company may have one (1) or more members.