Section 104 - Nature, purpose, and duration of limited liability company.

UT Code § 48-3a-104 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

(1) A limited liability company is an entity distinct from its member or members.

(2) A limited liability company may have any lawful purpose, regardless of whether for profit.

(3) A limited liability company has perpetual duration.