Montana Statutes
§ 35-12-509 — Nature, Purpose, And Duration Of Entity
Montana·Title 35 CORPORATIONS, PARTNERSHIPS, AND ASSOCIATIONS·Ch. 12 LIMITED PARTNERSHIPS·Part 5 General Provisions
35-12-509 . Nature, purpose, and duration of entity.
(1)A limited partnership is an entity distinct from its partners' 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.
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Legislative History
En. Sec. 9, Ch. 522, L. 1981; amd. Sec. 7, Ch. 216, L. 2011.
Nearby Sections
15
§ 35-12-1001
Interim Distributions§ 35-12-1002
Repealed§ 35-12-1003
Repealed§ 35-12-1004
Repealed§ 35-12-1005
Distributions In Kind§ 35-12-1006
Right To Distributions§ 35-12-1007
Repealed§ 35-12-1008
Repealed§ 35-12-1009
No Distribution On Account Of Dissociation§ 35-12-101
Repealed§ 35-12-1010
Limitations On Distribution§ 35-12-1011
Liability For Improper Distributions§ 35-12-1012
Through 35-12-1015 Reserved§ 35-12-1016
Dissociation As Limited Partner§ 35-12-1017
Effect Of Dissociation As Limited Partner