Alabama § 10A-9A-1.04 Nature and Purpose

Alabama Statutes

§ 10A-9A-1.04 — Nature and Purpose

Alabama § 10A-9A-1.04

Title 10AAlabama Business and Nonprofit Entities Code

Ch. 9AAlabama Limited Partnership Law

Art. 1General Provisions

This text of Alabama § 10A-9A-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-9A-1.04 (2026).

Text

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

(b)A limited partnership may carry on any lawful activity, whether or not for profit, except a banking or insurance business.

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(a) A limited partnership is a separate legal entity. A limited partnership’s status for tax purposes shall not affect its status as a separate legal entity formed under this chapter. A limited partnership is the same entity regardless of whether its certificate of formation states that the limited partnership is a limited liability limited partnership. A partner has no interest in any specific property of a limited partnership.
(b) A limited partnership may carry on any lawful activity, whether or not for profit, except a banking or insurance business.