S.D. Codified Laws § 48-7A-1004.1
Current through the 2024 Legislative Session
Notwithstanding any other provisions of § 48-7A-1004, a revocable trust may be a partner in a limited liability partnership organized under this chapter, for so long as the grantor of the revocable trust is living and is eligible to be a partner of a limited liability partnership organized under this chapter. After the death of the grantor, the partnership interest owned by a revocable trust is subject to any applicable divestiture and redemption provisions as if the partnership interest were directly owned by the grantor of the trust.
SDCL 48-7A-1004.1