allow for the direct creation of a limited liability limited partnership.

Summary

The bill lets businesses in South Dakota become a limited liability limited partnership (LLLP) either by filing a new certificate or by amending an existing limited partnership. It requires a specific name suffix and filing with the Secretary of State. This gives partners the liability protection of a corporation while keeping partnership tax treatment.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share