North Dakota Code 10-32.1-07 – Nature, purpose, and duration of a limited liability company
Current as of: 2023 | Check for updates
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1. A limited liability company is an entity distinct from its members.
Terms Used In North Dakota Code 10-32.1-07
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
2. Except for a nonprofit limited liability company subject to chapter 10-36, which must comply with that chapter, a limited liability company may have any lawful purpose.
3. A limited liability company has perpetual duration unless stated otherwise in articles of organization filed with the secretary of state prior to July 1, 2015.