Nature, purposes and duration of limited liability company
Known as the Uniform Partnership Act
The act spans §§ 42:1A-1 to 42:6-9 (286 sections).
L.2012, c.50, s.4.
4. Nature, Purpose and Duration of Limited Liability Company.
a. A limited liability company is an entity distinct from its members.
b. A limited liability company may have any lawful purpose, regardless of whether for profit.
c. A limited liability company has perpetual duration.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.