Section 42:2C-4

42:2C-4 Nature, Purposes and Duration of Limited Liability Company

4. Nature, Purpose and Duration of Limited Liability Company.

a. A limited liability company is an entity distinct from its members.

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

c. A limited liability company has perpetual duration.

L.2012, c.50, s.4.