48-7A-1004.1. Revocable trust as shareholder--Conditions.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. Source: SL 2002, ch 205, §11.
South Dakota Legal Code