Corporations, Associations, and Partnerships

The Rhode Island Limited-Liability Company Act

SECTION 7-16-3

§ 7-16-3. Purpose and duration.

Every limited-liability company organized under this chapter has the purpose of engaging in any lawful business, and has perpetual existence until dissolved as terminated in accordance with this chapter, unless a more limited purpose or duration is set forth in the articles of organization.

History of Section.
(P.L. 1992, ch. 280, § 1; P.L. 1997, ch. 188, § 5; P.L. 2002, ch. 205, § 2.)