A plan manager, including the developer if it is also the plan manager, may not undertake the duties, responsibilities, and obligations of managing a time-share plan if the time-share unit is located in the state unless the plan manager files and the commission accepts the following:

1. (1) The time-share plan or plans that it intends to manage;
2. (2) Its principal office address and telephone number;
3. (3) If a corporation, the name, address, and telephone number of its responsible managing employee;
4. (4) A sworn statement from the developer listing the plan manager's duties, responsibilities, and obligations;
5. (5) A sworn statement from the plan manager stating its duties, responsibilities, and obligations, as set out in § 20:69:12:19; and
6. (6) The address where all accounting records, including receipts, expenditures, and payment vouchers, are maintained.

Source: 10 SDR 68, effective January 1, 1984; 12 SDR 102, effective December 22, 1985; 12 SDR 151, 12 SDR 155, effective July 1, 1986; transferred from § 20:56:20:14, August 16, 1993.

General Authority: SDCL 36-21A-89 , 43-15B-6.

Law Implemented: SDCL 43-15B-3 , 43-15B-6.