(1)  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.

Terms Used In Utah Code 48-2e-104

(2)  A limited partnership may have any lawful purpose, regardless of whether for profit.

(3)  A limited partnership has perpetual duration.

Enacted by Chapter 412, 2013 General Session