Statutes > Idaho Statutes > TITLE 53 PARTNERSHIP > CHAPTER 2 UNIFORM LIMITED PARTNERSHIP ACT > PART 1 GENERAL PROVISIONS > 53-2-104 NATURE, PURPOSE AND DURATION OF ENTITY.

53-2-104 NATURE, PURPOSE AND DURATION OF ENTITY.

TITLE 53

PARTNERSHIP

CHAPTER 2

UNIFORM LIMITED PARTNERSHIP ACT

PART 1

GENERAL PROVISIONS

53-2-104. Nature, purpose and duration of entity. (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 be organized under this chapter for any lawful purpose.

(3) A limited partnership has a perpetual duration.