<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 48-7-105 - Records to be kept. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069738Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2069738SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069738CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069738Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2069738DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; 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font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2069738Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=48-7-105"><span class="s2069738SENU">48-7-105</span></a><span xml:space="preserve" class="s2069738SENU">. </span><span class="s2069738CL">Records to be kept.</span></p><p dir="ltr" class="s2069738Normal-000000"><span xml:space="preserve" class="s2069738DefaultParagraphFont">Each limited partnership shall keep at the office referred to in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=48-7-104"><span class="s2069738DefaultParagraphFont">48-7-104</span></a><span xml:space="preserve" class="s2069738DefaultParagraphFont"> the following:</span></p><p dir="ltr" class="s2069738Normal-000001"><span class="s2069738DefaultParagraphFont">(1)    A current list of the full name and last known business address of each partner, separately identifying in alphabetical order the general partners and the limited partners;</span></p><p dir="ltr" class="s2069738Normal-000001"><span class="s2069738DefaultParagraphFont">(2)    A copy of the certificate of limited partnership and all certificates of amendment thereto, together with executed copies of any powers of attorney pursuant to which any certificate has been executed;</span></p><p dir="ltr" class="s2069738Normal-000001"><span class="s2069738DefaultParagraphFont">(3)    Copies of the limited partnership's federal, state, and local income tax returns and reports, if any, for the three most recent years;</span></p><p dir="ltr" class="s2069738Normal-000001"><span class="s2069738DefaultParagraphFont">(4)    Copies of any then effective written partnership agreements and of any financial statements of the limited partnership for the three most recent years; and</span></p><p dir="ltr" class="s2069738Normal-000001"><span class="s2069738DefaultParagraphFont">(5)    Unless contained in a written partnership agreement, a writing setting out:</span></p><p dir="ltr" class="s2069738Normal-000002"><span class="s2069738DefaultParagraphFont">(a)    The amount of cash and a description and statement of the agreed value of the other property or services contributed by each partner and which each partner has agreed to contribute;</span></p><p dir="ltr" class="s2069738Normal-000002"><span class="s2069738DefaultParagraphFont">(b)    The times at which or events on the happening of which any additional contributions agreed to be made by each partner are to be made;</span></p><p dir="ltr" class="s2069738Normal-000002"><span class="s2069738DefaultParagraphFont">(c)    Any right of a partner to receive, or of a general partner to make, distributions to a partner which include a return of all or any part of the partner's contribution; and</span></p><p dir="ltr" class="s2069738Normal-000002"><span class="s2069738DefaultParagraphFont">(d)    Any events upon the happening of which the limited partnership is to be dissolved and its affairs wound up.</span></p><p dir="ltr" class="s2069738Normal-000003"><span class="s2069738DefaultParagraphFont">Records kept under this section are subject to inspection and copying at the reasonable request, and at the expense, of any partner during ordinary business hours.</span></p><p dir="ltr" class="s2069738Normal"><span xml:space="preserve" class="s2069738000004"> </span></p><p dir="ltr" class="s2069738Normal"><span class="s2069738SCL">Source:</span><span xml:space="preserve" class="s2069738SCL-000005"> SL 1986, ch 391, § 105.</span></p></div></body></html>