<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 48-7-1106 - Becoming a limited liability limited partnership--Entity not changed--Applicability of subsections 48-7A-306(a) and 48-7A-307(b). </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069804Normal { 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.s2069804SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069804CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069804Normal-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.s2069804DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2069804Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2069804Normal-000002 { text-indent: 0.25in; 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.s2069804000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069804SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069804SCL-000004 { font-family: 'Times New Roman', 'serif'; 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="s2069804Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=48-7-1106"><span class="s2069804SENU">48-7-1106</span></a><span xml:space="preserve" class="s2069804SENU">. </span><span class="s2069804CL">Becoming a limited liability limited partnership--Entity not changed--Applicability of subsections 48-7A-306(a) and 48-7A-307(b).</span></p><p dir="ltr" class="s2069804Normal-000000"><span class="s2069804DefaultParagraphFont">(a) A limited partnership may become a limited liability limited partnership by:</span></p><p dir="ltr" class="s2069804Normal-000001"><span class="s2069804DefaultParagraphFont">(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;</span></p><p dir="ltr" class="s2069804Normal-000001"><span class="s2069804DefaultParagraphFont">(2)    Filing a statement of qualification under subsection 48-7A-1001(c) of the Uniform Partnership Act; and</span></p><p dir="ltr" class="s2069804Normal-000001"><span class="s2069804DefaultParagraphFont">(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."</span></p><p dir="ltr" class="s2069804Normal-000002"><span class="s2069804DefaultParagraphFont">(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.</span></p><p dir="ltr" class="s2069804Normal-000002"><span xml:space="preserve" class="s2069804DefaultParagraphFont">(c) Subsections 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 </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=48-7-303"><span class="s2069804DefaultParagraphFont">48-7-303</span></a><span xml:space="preserve" class="s2069804DefaultParagraphFont"> also applies to limited partners.</span></p><p dir="ltr" class="s2069804Normal"><span xml:space="preserve" class="s2069804000003"> </span></p><p dir="ltr" class="s2069804Normal"><span class="s2069804SCL">Source:</span><span xml:space="preserve" class="s2069804SCL-000004"> SL 2002, ch 210, § 1.</span></p></div></body></html>