Section 48-2e-104 - Nature, purpose, and duration of limited partnership(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.(2) A limited partnership may have any lawful purpose, regardless of whether for profit.(3) A limited partnership has perpetual duration.Added by Chapter 412, 2013 General Session ,§ 151, eff. 1/1/2014.