04. Nature, purpose, and duration of entity. (a) A limited partnership is an entity distinct from its partners. A limited partnership is the same entity regardless of whether its certificate states that the limited partnership is a limited liability limited partnership. (b) A limited partnership may be formed under this chapter for any lawful purpose, regardless of whether for profit. (c) A limited partnership shall have a perpetual duration. (July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(g)(2)(B), 59 DCR 13171.) Section References This section is referenced in § 29-711.01. Effect of Amendments The 2013 amendment by D.C. Law 19-210, in (b), substituted 'formed' for 'organized' and added 'regardless of whether for profit.' Editor's Notes Uniform Law: This section is based on § 104 of the Uniform Limited Partnership Act (2001 Act). Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.
District of Columbia Legal Code