South Dakota Statutes

§ 48-7A-101 — Definitions.

South Dakota·Title 48 PARTNERSHIPS·Ch. 48-7 UNIFORM PARTNERSHIP ACT

In this chapter:

(1)"Business" includes every trade, occupation, and profession;
(2)"Debtor in bankruptcy" means a person who is the subject of:
(i)An order for relief under Title 11 of the United States Code or a comparable order under a successor statute of general application; or (ii) A comparable order under federal, state, or foreign law governing insolvency;
(3)"Distribution" means a transfer of money or other property from a partnership to a partner in the partner's capacity as a partner or to the partner's transferee;
(4)"Foreign limited liability partnership" means a partnership that:
(i)Is formed under laws other than the laws of this state; and (ii) Has the status of a limited liability partnership under those laws;
(5)"Limited liability partner

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Related

McGregor v. Crumley
2009 SD 95 (South Dakota Supreme Court, 2009)
2 case citations

Legislative History

SL 2001, ch 249, § 101.

Nearby Sections

15
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