Nature, purpose, and duration of limited partnership
Known as the Tennessee Uniform Limited Partnership Act
The act spans §§ 61-2-1001 to 61-3-906 (205 sections).
Acts 2017, ch. 440, § 1.
(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 have any lawful purpose, regardless of whether for profit.
(3) A limited partnership has perpetual duration.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.