This form allows any Non-Operator, once each calendar year, to assume the position of Operator, proveded the Non-Operator owns a a mandated percent of the contract area. The Non-Operator shall be bound for one (1) year to operate at its proposed savings.
South Dakota Change of Operator refers to the process of transferring or replacing the current operator or manager of a business entity in the state of South Dakota. This change can occur for various reasons, including retirement, resignation, sale of the business, or the need for new management. A Change of Operator may apply to different types of businesses in South Dakota, such as corporations, limited liability companies (LCS), partnerships, and sole proprietorship. The South Dakota Change of Operator typically requires certain legal procedures and filings to ensure a smooth transition in the management of the business. The specific forms and documents needed can vary depending on the type of business entity involved and the nature of the change. It is essential to follow the guidelines set by the South Dakota Secretary of State's office to ensure compliance with state laws. For corporations, a Change of Operator often involves the appointment of a new officer or director to replace the previous individual. This requires filing specific forms, such as the Articles of Amendment or Statements of Change of Officer, with the Secretary of State. The new operator's name, contact information, and position within the company must be provided in these documents. In the case of LCS, a Change of Operator typically involves amending the company's Operating Agreement or Articles of Organization. The new operator's name, address, and contact details must be updated, and a written resolution or consent agreement may be required to document the change. These documents must be submitted to the Secretary of State's office for approval. Partnerships in South Dakota may also undergo a Change of Operator when a partner leaves or a new partner joins the business. This change usually requires revising the partnership agreement, updating the names and responsibilities of the partners involved. Although South Dakota does not require registration of general partnerships, it is prudent to notify the Secretary of State's office to keep the partnership records up to date. Sole proprietorship, which are businesses owned and operated by a single individual, do not typically require a formal Change of Operator. However, if a sole proprietor decides to sell the business or transfer ownership, it is advisable to inform the appropriate local and state authorities, such as the South Dakota Department of Revenue, to ensure a smooth transition and compliance with tax obligations. In summary, the South Dakota Change of Operator applies to various types of businesses in the state, including corporations, LCS, partnerships, and sole proprietorship. Each type of business has specific requirements for filing the necessary documents and updating the relevant agreements. It is crucial to consult with legal professionals or the Secretary of State's office to understand the specific steps involved in effecting a Change of Operator in South Dakota.
