A limited liability limited partnership may be qualified or formed as follows: (1) An existing limited partnership, in order to qualify as a limited liability limited partnership, must: (a) Obtain approval of the terms and conditions of the limited partnership becoming a limited liability limited partnership by the vote necessary to amend the limited partnership agreement, except in a limited partnership with an agreement that expressly considers contribution obligations, in which case by the vote necessary to amend the contribution obligation provisions; (b) File a statement of qualification pursuant to § 48-7A-1001 ; (c) Have as the last words or letters of its name the words "Registered Limited Liability Limited Partnership," or the abbreviation "L.L.L.P.," or the designation "LLLP;" and (d) Continue as the same entity that existed before the filing of a statement of qualification pursuant to § 48-7A-1001 (c). (2) Alternatively, a limited liability limited partnership may be formed directly by filing a certificate of limited liability limited partnership pursuant to § 48-7-1107 . Subsections 48-7A-306 (c) and 48-7A-307 (b) apply to both general and limited partners of a limited liability limited partnership. § 48-7-303 also applies to limited partners. Upon qualification or formation, the entity is a limited partnership and a limited liability limited partnership for all purposes of this chapter.
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