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

New formation option for South Dakota partnerships

Beginning January 1, 2027, South Dakota allows direct formation of a limited liability limited partnership (LLLP). Owners file a certificate with the Secretary of State instead of first creating a limited partnership and converting it. The name must end with “Registered Limited Liability Limited Partnership,” “L.L.L.P.,” or “LLLP.” The certificate must list the chief executive office’s street address and any different South Dakota office address. Without a South Dakota office, it must include the information required by § 59-11-6. It must also state the choice to become an LLLP and any delayed start date. Formation takes effect when filed or on that listed date. Electronic filing requires the Secretary of State’s permission; paper filings can require one exact or conformed copy. Existing limited partnerships can qualify by filing a statement of qualification and adopting the required name. Conversion requires the vote needed to amend the partnership agreement—or its contribution terms when those terms expressly govern contribution obligations. The converted partnership remains the same entity. Both new and converted entities count as limited partnerships and LLLPs under Chapter 48-7. Sections 48-7A-306(c) and 48-7A-307(b) apply to both general and limited partners; § 48-7-303 also applies to limited partners.