<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-704 - Statement of dissociation. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2069842Normal { 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.s2069842SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069842CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2069842Normal-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.s2069842DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2069842Normal-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.s2069842DefaultParagraphFont-000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069842000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2069842SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2069842SCL-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="s2069842Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=48-7A-704"><span class="s2069842SENU">48-7A-704</span></a><span xml:space="preserve" class="s2069842SENU">. </span><span class="s2069842CL">Statement of dissociation.</span></p><p dir="ltr" class="s2069842Normal-000000"><span class="s2069842DefaultParagraphFont">(a) A dissociated partner or the partnership may file a statement of dissociation in the Office of the Secretary of State stating the name of the partnership and that the partner is dissociated from the partnership.</span></p><p dir="ltr" class="s2069842Normal-000001"><span class="s2069842DefaultParagraphFont">(b) A statement of dissociation is a limitation on the authority of a dissociated partner for the purposes of subsections 48</span><span class="s2069842DefaultParagraphFont-000002">-</span><span class="s2069842DefaultParagraphFont">7A</span><span class="s2069842DefaultParagraphFont-000002">-</span><span class="s2069842DefaultParagraphFont">303(d) and (e).</span></p><p dir="ltr" class="s2069842Normal-000001"><span class="s2069842DefaultParagraphFont">(c) For the purposes of subsections 48</span><span class="s2069842DefaultParagraphFont-000002">-</span><span class="s2069842DefaultParagraphFont">7A</span><span class="s2069842DefaultParagraphFont-000002">-</span><span class="s2069842DefaultParagraphFont">702(a)(3) and 48</span><span class="s2069842DefaultParagraphFont-000002">-</span><span class="s2069842DefaultParagraphFont">7A</span><span class="s2069842DefaultParagraphFont-000002">-</span><span class="s2069842DefaultParagraphFont">703(b)(3), a person not a partner is deemed to have notice of the dissociation ninety days after the statement of dissociation is filed.</span></p><p dir="ltr" class="s2069842Normal"><span xml:space="preserve" class="s2069842000003"> </span></p><p dir="ltr" class="s2069842Normal"><span class="s2069842SCL">Source:</span><span xml:space="preserve" class="s2069842SCL-000004"> SL 2001, ch 249, § 704.</span></p></div></body></html>