South Dakota Statutes
§ 48-7-301 — Admission of limited partners.
(a)A person becomes a limited partner on the later of:
(1)The date the original certificate of limited partnership is filed; or (2) The date stated in the records of the limited partnership as the date that person becomes a limited partner.
(b)After the filing of a limited partnership's original certificate of limited partnership, a person may be admitted as an additional limited partner:
(1)In the case of a person acquiring a partnership interest directly from the limited partnership, upon the compliance with the partnership agreement or, if the partnership agreement does not so provide, upon the written consent of all partners; and (2) In the case of an assignee of a partnership interest of a partner who has the power, as provided in § 48-7-704 , to grant the assignee the
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Legislative History
SL 1986, ch 391, §§ 301(a), 301(b).
Nearby Sections
15
§ 48-7-1001
Right of action.§ 48-7-1002
Proper plaintiff.§ 48-7-1003
Pleading.§ 48-7-1004
Expenses.§ 48-7-101
Definitions.§ 48-7-102
Name.§ 48-7-103
Reservation of name.§ 48-7-104
Specified office and agent.§ 48-7-105
Records to be kept.§ 48-7-106
Nature of business.§ 48-7-1101
Construction and application.§ 48-7-1102
Short title.§ 48-7-1103
Severability.