The following franchises are subject to this chapter but are exempt from § 37-5B-4 if any of the following conditions are satisfied:

(1) The offer or sale to an existing franchisee of an additional franchise that is substantially the same as the franchise that the franchisee has operated for at least two years at the time of the offer or sale; or

Terms Used In South Dakota Codified Laws 37-5B-14

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.

(2) The offer or sale of a franchise to a bank, saving and loan association, financial organization or life insurance corporation within the meanings given these terms by chapters 43-41B, 52-1, and 58-1.

Source: SL 2008, ch 203, § 14.

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