South Dakota Codified Laws 43-2-15. Partnership interest defined
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A partnership interest is one owned by several persons, in partnership, for partnership purposes.
Terms Used In South Dakota Codified Laws 43-2-15
- 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: CivC 1877, § 177; CL 1887, § 2693; RCivC 1903, § 200; RC 1919, § 270; SDC 1939, § 51.0213.