{"data":{"id":"us-sd/sdcl-48-7a-801","jurisdiction":"us-sd","citation":"SDCL § 48-7A-801","heading":"Events causing dissolution and winding up of partnership business.","body":"A partnership is dissolved, and its business must be wound up, only upon the occurrence of any of the following events:\n(1) In a partnership at will, the partnership's having notice from a partner, other than a partner who is dissociated under subsections 48-7A-601(2) to (10), inclusive, of that partner's express will to withdraw as a partner, or on a later date specified by the partner;\n(2) In a partnership for a definite term or particular undertaking:\n(i) Within ninety days after a partner's dissociation by death or otherwise under subsections 48-7A-601(6) to (10), inclusive, or wrongful dissociation under subsection 48-7A-602(b), the express will of at least half of the remaining partners to wind up the partnership business, for which purpose a partner's rightful dissociation pursuant to subsection 48-7A-602(b)(2)(i) constitutes the expression of that partner's will to wind up the partnership business;\n(ii) The express will of all of the partners to wind up the partnership business; or\n(iii) The expiration of the term or the completion of the undertaking;\n(3) An event agreed to in the partnership agreement resulting in the winding up of the partnership business;\n(4) An event that makes it unlawful for all or substantially all of the business of the partnership to be continued, but a cure of illegality within ninety days after notice to the partnership of the event is effective retroactively to the date of the event for purposes of this section;\n(5) On application by a partner, a judicial determination that:\n(i) The economic purpose of the partnership is likely to be unreasonably frustrated;\n(ii) Another partner has engaged in conduct relating to the partnership business which makes it not reasonably practicable to carry on the business in partnership with that partner; or\n(iii) It is not otherwise reasonably practicable to carry on the partnership business in conformity with the partnership agreement; or\n(6) On application by a transferee of a partner's transferable interest, a judicial determination that it is equitable to wind up the partnership business:\n(i) After the expiration of the term or completion of the undertaking, if the partnership was for a definite term or particular undertaking at the time of the transfer or entry of the charging order that gave rise to the transfer; or\n(ii) At any time, if the partnership was a partnership at will at the time of the transfer or entry of the charging order that gave rise to the transfer.","path":["TITLE 48. PARTNERSHIPS","CHAPTER 48-7A. UNIFORM PARTNERSHIP ACT"],"source_url":"https://sdlegislature.gov/Statutes/48-7A-801","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"670008cd3a109160228e4364922c3a3a43a8f3543120fda4400b1182b69420ef","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-48-7a-705","next":"us-sd/sdcl-48-7a-802"},"notice":"GroundRules: Original legal text. Not legal advice."}