Alabama § 10A-8A-1.04 Nature and Purpose

Alabama Statutes

§ 10A-8A-1.04 — Nature and Purpose

Alabama § 10A-8A-1.04

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 8AAlabama Partnership Law

Art. 1General Provisions

This text of Alabama § 10A-8A-1.04 (Nature and Purpose) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 10A-8A-1.04 (2026).

Text

(a)A partnership is a separate legal entity. A partnership’s status for tax purposes shall not affect its status as a separate legal entity formed under this chapter. A partnership is the same entity regardless of whether the partnership has a statement of limited liability partnership under Section 10A-8A-10.01 stating that the partnership is a limited liability partnership. A partner has no interest in any specific property of a partnership.

(b)A partnership may carry on any lawful business and may carry on any lawful not for profit activity if it complies with Section 10A-8A-2.02(b).

Free access — add to your briefcase to read the full text and ask questions with AI

(a) A partnership is a separate legal entity. A partnership’s status for tax purposes shall not affect its status as a separate legal entity formed under this chapter. A partnership is the same entity regardless of whether the partnership has a statement of limited liability partnership under Section 10A-8A-10.01 stating that the partnership is a limited liability partnership. A partner has no interest in any specific property of a partnership.
(b) A partnership may carry on any lawful business and may carry on any lawful not for profit activity if it complies with Section 10A-8A-2.02(b).