Additional disclosure statement requirements.
Effective Jul 1, 198612 SDR 155Source: 10 SDR 68, effective January 1, 1984; 10 SDR 121, amended May 17, 1984, retroactively effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:20:07, August 16, 1993. | General Authority: SDCL 36-21A-89 , 43-15B-6. | Law Implemented: SDCL 43-15B-3 , 43-15B-6.
In addition to the requirements prescribed in § 20:69:12:06, disclosure statements distributed to the public must meet the following requirements:
- (1) Provide a brief description of the method by which the time-share plan or units is to be offered;
- (2) Provide a description of the amount and types of units offered by the developer for the time-share plan; and
- (3) A summary of the developer's escrow agreement.
Source: 10 SDR 68, effective January 1, 1984; 10 SDR 121, amended May 17, 1984, retroactively effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:20:07, August 16, 1993.
General Authority: SDCL 36-21A-89 , 43-15B-6.
Law Implemented: SDCL 43-15B-3 , 43-15B-6.