A person may file a disclaimer of affiliation or a request for termination of registration claiming that it does not, or will not upon the taking of some proposed action, control another person, referred to in this section as the "subject." The disclaimer or request for termination must contain the following information:

1. (1) The number of authorized, issued, and outstanding voting securities of the subject;
2. (2) For the person whose control is denied and all affiliates of that person, the number and percentage of shares of the subject's voting securities which are held of record or known to be beneficially owned and the number of the shares for which there is a right to acquire, directly or indirectly;
3. (3) All material relationships and bases for affiliation between the subject and the person whose control is denied and all affiliates of that person; and

4. (4) A statement explaining why the person should not be considered to control the subject.

   A request for termination of registration is considered to be granted unless the director denies the request in writing within 30 days after the receipt of the request.

Source: 20 SDR 36, effective September 19, 1993.

General Authority: SDCL 58-5A-70.

Law Implemented: SDCL 58-5A-70.