New Mexico Statutes 54-2A-104. Nature, purpose and duration of entity
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A. A limited partnership is an entity distinct from its partners.
Terms Used In New Mexico Statutes 54-2A-104
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
B. A limited partnership may be organized pursuant to the Uniform Revised Limited Partnership Act for any lawful purpose.
C. A limited partnership has a perpetual duration.