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(1) A limited liability company is an entity distinct from its member or members.
(2) A limited liability company may have any lawful purpose, regardless of whether for profit.
(3) A limited liability company has perpetual duration.
Cite this article: FindLaw.com - Utah Code Title 48. Partnership--Unincorporated Business Entities § 48-3a-104. Nature, purpose, and duration of limited liability company - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-48-partnership-unincorporated-business-entities/ut-code-sect-48-3a-104/
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