S.D. Admin. R. 20:69:12:17
A registrant or other person attempting to sell a time-share estate or plan shall provide to prospective purchasers a copy of the disclosure statement which is a true, accurate, and complete reproduction of the statement filed and accepted by the commission. The registrant or other person attempting to sell a time-share plan or estate shall give the prospective purchaser an opportunity to read the statement.
Prospective purchasers receiving a copy of the disclosure statement shall sign a statement acknowledging receipt of the disclosure statement on a receipt form prescribed by the commission. The receipt must be kept at the principal office of the developer for a period of two years from the date of the receipt and is subject to inspection upon notice by the commission or the commission's representative. If the principal office is not located in this state, the developer is subject to the out-of-state inspection requirements of § 20:69:12:19.
S.D. Admin. R. 20:69:12:17
General Authority: SDCL 36-21A-89, 43-15B-6.
Law Implemented: SDCL 43-15B-3, 43-15B-6.