South Dakota Codified Laws 48-7-803. Winding up
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Except as provided in the partnership agreement, the general partners who have not wrongfully dissolved a limited partnership or, if none, the limited partners, may wind up the limited partnership’s affairs; but the circuit court may wind up the limited partnership’s affairs upon application of any partner, his legal representative, or assignee.
Terms Used In South Dakota Codified Laws 48-7-803
- 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.
Source: SL 1986, ch 391, § 803.