South Dakota Codified Laws 48-7-102. Name
The name of a limited partnership as set forth in its certificate of limited partnership:
(1) Shall contain the words “limited partnership” or the initials “L.P.” or “LP”;
Terms Used In South Dakota Codified Laws 48-7-102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(2) May not contain the name of a limited partner unless:
(a) It is also the name of a general partner or the corporate name of a corporate general partner; or
(b) The business of the limited partnership had been carried on under that name before the admission of that limited partner;
(3) Must be distinguishable upon the records of the secretary of state from, the name of any corporation, whether for profit or not for profit, or limited partnership organized under the laws of South Dakota or licensed or registered as a foreign corporation, whether for profit or not for profit, or limited partnership in this state; and
(4) May not contain any word or phrase indicating or implying that it is organized other than for a purpose stated in its certificate of limited partnership.
Source: SL 1986, ch 391, § 102; SL 1990, ch 370, § 1; SL 1998, ch 272, § 1; SL 2014, ch 216, § 1.