§ 105. Purpose and duration of mutual benefit enterprise
(a) A mutual benefit enterprise is an entity distinct from its members.
(b) A mutual benefit enterprise may be organized for any lawful purpose, whether or not for profit.
(c) Unless the articles of organization state a term for a mutual benefit enterprise's existence, the enterprise has perpetual duration. (Added 2011, No. 84 (Adj. Sess.), § 1, eff. April 20, 2012.)
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