{"data":{"id":"us-sd/sdcl-48-7a-101","jurisdiction":"us-sd","citation":"SDCL § 48-7A-101","heading":"Definitions.","body":"In this chapter:\n(1) \"Business\" includes every trade, occupation, and profession;\n(2) \"Debtor in bankruptcy\" means a person who is the subject of:\n(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\n(ii) A comparable order under federal, state, or foreign law governing insolvency;\n(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;\n(4) \"Foreign limited liability partnership\" means a partnership that:\n(i) Is formed under laws other than the laws of this state; and\n(ii) Has the status of a limited liability partnership under those laws;\n(5) \"Limited liability partnership\" means a partnership that has filed a statement of qualification under § 48-7A-1001 and does not have a similar statement in effect in any other jurisdiction;\n(6) \"Partnership\" means an association of two or more persons to carry on as co-owners a business for profit formed under § 48-7A-202, predecessor law, or comparable law of another jurisdiction;\n(7) \"Partnership agreement\" means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement;\n(8) \"Partnership at will\" means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking;\n(9) \"Partnership interest\" or \"partner's interest in the partnership\" means all of a partner's interests in the partnership, including the partner's transferable interest and all management and other rights;\n(10) \"Person\" means an individual, corporation, business trust, estate, trust, partnership, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity;\n(11) \"Property\" means all property, real, personal, or mixed, tangible or intangible, or any interest therein;\n(12) \"State\" means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States;\n(13) \"Statement\" means a statement of partnership authority under § 48-7A-303, a statement of denial under § 48-7A-304, a statement of dissociation under § 48-7A-704, a statement of dissolution under § 48-7A-805, a statement of merger under § 48-7A-907, a statement of qualification under § 48-7A-1001, a statement of foreign qualification under § 48-7A-1102, or an amendment or cancellation of any of the foregoing;\n(14) \"Transfer\" includes an assignment, conveyance, lease, mortgage, deed, and encumbrance.","path":["TITLE 48. PARTNERSHIPS","CHAPTER 48-7A. UNIFORM PARTNERSHIP ACT"],"source_url":"https://sdlegislature.gov/Statutes/48-7A-101","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"e694e9c3ba505c3454e1b605fbc2cd25c5209302d2874a6ed05d760e09e35e60","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-48-7-1107","next":"us-sd/sdcl-48-7a-102"},"notice":"GroundRules: Original legal text. Not legal advice."}