South Dakota Codified Laws 48-7-305. Information
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Each limited partner has the right to:
(1) Inspect and copy any of the partnership records required to be maintained by § 48-7-105; and
Terms Used In South Dakota Codified Laws 48-7-305
- 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) Obtain from the general partners from time to time upon reasonable demand:
(a) True and full information regarding the state of the business and financial condition of the limited partnership;
(b) Promptly after becoming available, a copy of the limited partnership’s federal, state, and local income tax returns for each year; and
(c) Other information regarding the affairs of the limited partnership as is just and reasonable.
Source: SL 1986, ch 391, § 305.