The only transferable interest of a partner in the partnership is the partner's share of the profits and losses of the partnership and the partner's right to receive distributions. The interest is personal property.
S.D. Codified Laws § 48-7A-502
Partner's transferable interest in partnership
Known as the Uniform Partnership Act
The act spans §§ 48–48 (74 sections).
Applied in 2 court decisions — leading case Peters v. Great Western Bank, Inc. (2015)
Most recently applied in Healy Ranch v. Healy (August 2022)
Source: SL 2001, ch 249, § 502.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.