{"data":{"id":"us-sd/sdcl-48-7-101","jurisdiction":"us-sd","citation":"SDCL § 48-7-101","heading":"Definitions.","body":"Terms used in this chapter mean:\n(1) \"Certificate of limited partnership,\" the certificate referred to in § 48-7-201, and the certificate as amended or restated;\n(2) \"Contribution,\" any cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services, which a partner contributes to a limited partnership in the partner's capacity as a partner;\n(3) \"Event of withdrawal of a general partner,\" an event that causes a person to cease to be a general partner as provided in § 48-7-402;\n(4) \"Foreign limited partnership,\" a partnership formed under the laws of any state other than South Dakota and having as partners one or more general partners and one or more limited partners;\n(5) \"General partner,\" a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner;\n(6) \"Limited partner,\" a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement;\n(7) \"Limited partnership\" and \"domestic limited partnership,\" a partnership formed by two or more persons under the laws of South Dakota and having one or more general partners and one or more limited partners;\n(8) \"Partner,\" a limited or general partner;\n(9) \"Partnership agreement,\" any valid agreement written or oral, of the partners as to the affairs of a limited partnership and the conduct of its business;\n(10) \"Partnership interest,\" a partner's share of the profits and losses of a limited partnership and the right to receive distributions of partnership assets;\n(11) \"Person,\" a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, limited liability company (domestic or foreign), or corporation;\n(12) \"State,\" a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico.","path":["TITLE 48. PARTNERSHIPS","CHAPTER 48-7. UNIFORM LIMITED PARTNERSHIP ACT"],"source_url":"https://sdlegislature.gov/Statutes/48-7-101","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"40c1106e46931ef09a0b29e3958b59ee883a7a6b281344298ce8cc3ca1cf40e8","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-48-5-1","next":"us-sd/sdcl-48-7-102"},"notice":"GroundRules: Original legal text. Not legal advice."}