Section 183.0108 - Nature, purpose, and duration of limited liability company(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. A limited liability company engaging in a business that is subject to the provisions of another chapter may organize under this chapter only if not prohibited by, and is subject to all limitations of, the other chapter.(3) A limited liability company has perpetual duration.(3m) An interest in a limited liability company may be a security, as specified in s. 551.102 (28) (e).Amended by Acts 2021 ch, 258,s 616, eff. 4/17/2022.1993 a. 112; 1995 a. 27; 2001 a. 44.