ENTITLED, An Act to  amend the Uniform Limited Partnership Act to provide limited liability limited partnerships.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That chapter 48-7 be amended by adding thereto a NEW SECTION to read as follows:

     48-7-1106. (a) A limited partnership may become a limited liability limited partnership by:

             (1)    Obtaining 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 the case of a limited partnership agreement that expressly considers contribution obligations, the vote necessary to amend those provisions;

             (2)    Filing a statement of qualification under §  48-7A-1001(c) of the Uniform Partnership Act; and

             (3)    Having 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."

     (b) A limited liability limited partnership continues to be the same entity that existed before the filing of a statement of qualification under §  48-7A-1001(c) of the Uniform Partnership Act.

     (c) Sections 48-7A-306(c) and 48-7A-307(b) of the Uniform Partnership Act apply to both general and limited partners of a limited liability limited partnership. Section 48-7-303 also applies to limited partners.

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An Act to amend the Uniform Limited Partnership Act to provide limited liability limited partnerships.

========================= I certify that the attached Act originated in the SENATE as Bill No. 169

____________________________
Secretary of the Senate

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____________________________
President of the Senate

Attest:

____________________________
Secretary of the Senate

____________________________
Speaker of the House

Attest:

____________________________
Chief Clerk

Senate Bill No. 169
File No. ____
Chapter No. ______     =========================
Received at this Executive Office this _____ day of _____________ ,

20____ at ____________ M.

By _________________________
for the Governor

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The attached Act is hereby approved this ________ day of ______________ , A.D., 20___

____________________________
Governor

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STATE OF SOUTH DAKOTA,

ss.

Office of the Secretary of State

Filed ____________ , 20___
at _________ o'clock __ M.

____________________________
Secretary of State

By _________________________
Asst. Secretary of State