Any extension or acceptance of credit in violation of this chapter is regarded as giving and receiving financial assistance, and the licenses of both the wholesaler and retailer involved in the violation may be suspended or revoked, as determined by the secretary. It is a violation of this section for any wholesaler to accept a postdated check, note, or memorandum, or to participate in any scheme, trick, or device to assist any retail dealer.

Source: SL 1975, ch 16, § 1; 2 SDR 2, effective July 17, 1975; 4 SDR 35, effective December 22, 1977; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 31 SDR 214, effective July 6, 2005; 45 SDR 83, effective December 18, 2018.

General Authority: SDCL 35-10-1(6).

Law Implemented: SDCL 35-2-10 , 35-4-52 , 35-10-1(6).

Prior versions effective: 2005-07-06.