Except as provided in the partnership agreement, a partner may lend money to and transact other business with the limited partnership and, subject to other applicable law, has the same rights and obligations with respect thereto as a person who is not a partner.
S.D. Codified Laws § 48-7-107
Business transactions of partner with partnership
Known as the Uniform Limited Partnership Act
The act spans §§ 48–48 (71 sections).
Source: SL 1986, ch 391, § 107.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.