South Dakota § 48-7A-103 - Effect of partnership agreement, nonwaivable provisions.
Full text of South Dakota South Dakota Codified Laws § 48-7A-103 — Effect of partnership agreement, nonwaivable provisions., with citation guidance and answers to common questions.
§ 48-7A-103. Effect of partnership agreement, nonwaivable provisions.
(a) Except as otherwise provided in subsection (b), relations among the partners and between the partners and the partnership are governed by the partnership agreement. To the extent the partnership agreement does not otherwise provide, this chapter governs relations among the partners and between the partners and the partnership.
(b) The partnership agreement may not:
(1) Vary the rights and duties under § 48-7A-105 except to eliminate the duty to provide copies of statements to all of the partners;
(2) Unreasonably restrict the right of access to books and records under subsection 48-7A-403(b);
(3) Eliminate the duty of loyalty under subsection 48-7A-404(b) or subsection 48-7A-603(b)(3), but:
(i) The partnership agreement may identify specific types or categories of activities that do not violate the duty of loyalty, if not manifestly unreasonable; or
(ii) All of the partners or a number or percentage specified in the partnership agreement may authorize or ratify, after full disclosure of all material facts, a specific act or transaction that otherwise would violate the duty of loyalty;
(4) Unreasonably reduce the duty of care under subsection 48-7A-404(c) or subsection 48-7A-603(b)(3);
(5) Eliminate the obligation of good faith and fair dealing under subsection 48-7A-404(d), but the partnership agreement may prescribe the standards by which the performance of the obligation is to be measured, if the standards are not manifestly unreasonable;
(6) Vary the power to dissociate as a partner under subsection 48-7A-602(a), except to require the notice under subsection 48-7A-601(1) to be in writing;
(7) Vary the right of a court to expel a partner in the events specified in subsection 48-7A-601(5);
(8) Vary the requirement to wind up the partnership business in cases specified in subsection 48-7A-801(4), (5), or (6);
(9) Vary the law applicable to a limited liability partnership under subsection 48-7A-106(b); or
(10) Restrict rights of third parties under this chapter.
Source: SL 2001, ch 249, § 103.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 48-7A-103
What does South Dakota Codified Laws § 48-7A-103 cover?
Section 48-7A-103 ("Effect of partnership agreement, nonwaivable provisions.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 48-7A-103?
A common citation format is "South Dakota Codified Laws § 48-7A-103" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 48-7A-103 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.