Section 35-12-509 - Nature, purpose, and duration of entity(1) A limited partnership is an entity distinct from its partners' 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 be organized under this chapter for any lawful purpose.(3) A limited partnership has a perpetual duration.En. Sec. 9, Ch. 522, L. 1981; amd. Sec. 7, Ch. 216, L. 2011.