Subdivision 1. Separate entity. A limited liability company is an entity distinct from its members.
Subd. 2. Permitted purposes. Except for a nonprofit limited liability company subject to section 322C.1101, which must comply with that section, a limited liability company may have any lawful purpose.
Subd. 3. Duration. A limited liability company has perpetual duration.
History: 2014 c 157 art 1 s 4
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