Nature, purposes and duration of limited liability company.
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.
This is the verbatim text of N.J.S.A. 42:2C-4, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. KyzerLex is not a law firm and this page is not legal advice.