42:2C-4 Nature, Purpose, Duration - New Jersey LLC Act | LLC University®

Last updated May 30, 2020

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.

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