<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 48-7A-201 - Partnership as entity. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069813Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2069813SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069813CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069813Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2069813DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2069813Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2069813DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069813000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069813SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069813SCL-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="s2069813Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=48-7A-201"><span class="s2069813SENU">48-7A-201</span></a><span xml:space="preserve" class="s2069813SENU">. </span><span class="s2069813CL">Partnership as entity.</span></p><p dir="ltr" class="s2069813Normal-000000"><span class="s2069813DefaultParagraphFont">(a) A partnership is an entity distinct from its partners.</span></p><p dir="ltr" class="s2069813Normal-000001"><span class="s2069813DefaultParagraphFont">(b) A limited liability partnership continues to be the same entity that existed before the filing of a statement of qualification under § 48</span><span class="s2069813DefaultParagraphFont-000002">-</span><span class="s2069813DefaultParagraphFont">7A</span><span class="s2069813DefaultParagraphFont-000002">-</span><span class="s2069813DefaultParagraphFont">1001.</span></p><p dir="ltr" class="s2069813Normal"><span xml:space="preserve" class="s2069813000003"> </span></p><p dir="ltr" class="s2069813Normal"><span class="s2069813SCL">Source:</span><span xml:space="preserve" class="s2069813SCL-000004"> SL 2001, ch 249, § 201.</span></p></div></body></html>