2013 South Dakota Codified Laws
Title 48 - PARTNERSHIPS
Chapter 07A - Uniform Partnership Act
§ 48-7A-1004.1 Revocable trust as shareholder--Conditions.
48-7A-1004.1. Revocable trust as shareholder--Conditions. Notwithstanding any other provisions of § 48-7A-1004, a revocable trust may be a partner in a limited liability partnership organized under this chapter, for so long as the grantor of the revocable trust is living and is eligible to be a partner of a limited liability partnership organized under this chapter. After the death of the grantor, the partnership interest owned by a revocable trust is subject to any applicable divestiture and redemption provisions as if the partnership interest were directly owned by the grantor of the trust.
Source: SL 2002, ch 205, § 11.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
