Section 29-801.04 - Nature, purpose, and duration of limited liability company(a) A limited liability company is an entity distinct from its member or members.(b) A limited liability company may have any lawful purpose, regardless of whether for profit.(c) A limited liability company shall have perpetual duration.July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720; Mar. 5, 2013, D.C. Law 19-210, § 2(h)(2)(C), 59 DCR 13171.Uniform Law: This section is based on § ,104 of the Uniform Limited Company Act (2006 Act).
Application of Law 19-210: Section 7 of D.C. Law 19-210 provided that the act shall apply as of January 1, 2012.