Any owner whose application for proportional registration has been accepted shall preserve the records on which the application is based for a period of four full years following the year or period upon which said application is based. Upon request of the administrator, the owner agrees to make such records available to the administrator at his office for audit as to accuracy of computations and payments, or to pay the reasonable costs of an audit at the home office of the owner by a duly appointed representative of the administrator. The administrator may enter into agreements with agencies of other jurisdictions administering motor vehicle registration laws for joint audits of any such owner.

Terms Used In South Dakota Codified Laws 32-10-25

  • owner: means a person who holds a legal title of a vehicle, or in the event a vehicle is the subject of an agreement for the conditional sale thereof with the right of purchase upon performance of the conditions stated in the agreement and with an immediate right of possession vested in the conditional vendee, or in the event while a vehicle is subject to a lease with an immediate right of possession vested in the lessee, or in the event a mortgagor of a vehicle is entitled to possession, then such conditional vendee, lessee or mortgagee is considered to be the owner. See South Dakota Codified Laws 32-10-1

Source: SL 1961, ch 237, § 17.

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