A limited partner has no right of withdrawal from a limited partnership except as otherwise specified in writing in the partnership agreement. The provisions of this bill do not apply to limited partnership agreements in existence June 30, 1996, unless such agreements specify the time or events for dissolution or winding up of the limited partnership.
S.D. Codified Laws § 48-7-603
Withdrawal of limited partner
Known as the Uniform Limited Partnership Act
The act spans §§ 48–48 (71 sections).
Source: SL 1986, ch 391, § 603; SL 1996, ch 270.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.