§ 37-25A-1 Definitions
§ 37-25A-2 Exclusions from definition of business opportunity
§ 37-25A-3 Exemptions
§ 37-25A-4 Revocation or denial of exemption–Procedure
§ 37-25A-5 Revocation or denial of exemption without hearing pending final determination–Notice–Request for hearing
§ 37-25A-6 Offer or sale without knowledge of order revoking or denying exemption
§ 37-25A-7 Offer or sale of opportunity not registered or exempt prohibited
§ 37-25A-8 Filings required to register opportunity
§ 37-25A-9 Appointment of director as agent for service of process–Procedure for servicethrough director
§ 37-25A-10 Fee for registration
§ 37-25A-11 Effective date of registration
§ 37-25A-12 Term of registration–Renewal statement and fee–Sales report
§ 37-25A-13 Rule requiring filing of advertising and literature authorized
§ 37-25A-14 Delivery of written disclosure document to purchaser required
§ 37-25A-15 Form and content of disclosure statement
§ 37-25A-16 Business opportunity contract to be written–Copy to purchaser
§ 37-25A-17 Required contract provisions
§ 37-25A-18 Denial, revocation, or suspension of registration–Grounds
§ 37-25A-19 Limitation of revocation, suspension, or denial proceeding
§ 37-25A-20 Summary suspension or postponement of effectiveness of registration–Notice–Hearing–Modification
§ 37-25A-21 Prerequisites to entry of stop order
§ 37-25A-22 Vacation or modification of orders–Grounds
§ 37-25A-23 Net worth or bond requirements for use of income, refund, or repurchaserepresentations
§ 37-25A-24 Period bond required–Notice required prior to lapse
§ 37-25A-25 Use or disclosure of information by director restricted
§ 37-25A-26 Investigatory powers of director–Publication of information concerning violations
§ 37-25A-27 Administration of oaths–Subpoena power–Taking evidence
§ 37-25A-28 Enforcement of subpoena
§ 37-25A-29 Privilege against self-incrimination not excusing witness–Prosecution of witnessrestricted
§ 37-25A-30 Cease and desist orders–Injunction actions–Reference of evidence for prosecution
§ 37-25A-31 Appeal of director’s order
§ 37-25A-32 Promulgation of rules and forms
§ 37-25A-33 Findings required for adoption or change of rules–Cooperation with otherjurisdictions
§ 37-25A-34 Liability not imposed on acts conforming to rule, form or order
§ 37-25A-35 Receipt by director as filing–Records maintained–Public inspection
§ 37-25A-36 Interpretive opinions by director–Fee
§ 37-25A-37 Sales and offers subject to chapter
§ 37-25A-38 Offers to sell made in this state
§ 37-25A-39 Offers to sell accepted in this state
§ 37-25A-40 Offers to sell not made in this state
§ 37-25A-41 Conduct constituting appointment of director as attorney for service of process
§ 37-25A-42 Continuances where process served under chapter
§ 37-25A-43 Fraud, deceit, and misleading statements and omissions prohibited in connection withoffer or sale
§ 37-25A-44 False or misleading statements or omissions in proceedings or filings prohibited
§ 37-25A-45 Filing and registration not constituting finding of truthfulness or approval–Contraryrepresentations prohibited
§ 37-25A-46 Advertising with misleading statements or omissions prohibited
§ 37-25A-47 Violations as felonies–Separate offenses
§ 37-25A-48 Civil liability for registration violations
§ 37-25A-49 Civil liability for representation violations
§ 37-25A-50 Action on bond
§ 37-25A-51 Liability of person aiding or controlling violator
§ 37-25A-52 Limitation of actions to enforce civil liability
§ 37-25A-53 Rights and remedies under chapter additional
§ 37-25A-54 Waiver of rights void
§ 37-25A-55 Civil penalty

Terms Used In South Dakota Codified Laws > Title 37 > Chapter 25A - Business Opportunities

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
  • Docket: A log containing brief entries of court proceedings.
  • Embezzlement: In most states, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the employment and corporate settings. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Felony: A crime carrying a penalty of more than a year in prison.
  • Fiduciary: A trustee, executor, or administrator.
  • Fraud: Intentional deception resulting in injury to another.
  • Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • offer to sell: includes every attempt to dispose of a business opportunity for value or solicitation of an offer to purchase a business opportunity. See South Dakota Codified Laws 37-25A-1
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • sell: includes every contract or agreement of sale, contract to sell, disposition of a business opportunity or interest in a business opportunity for value. See South Dakota Codified Laws 37-25A-1
  • Service of process: The service of writs or summonses to the appropriate party.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Subpoena: A command to a witness to appear and give testimony.
  • Testify: Answer questions in court.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Trustee: A person or institution holding and administering property in trust.
  • Writ: A formal written command, issued from the court, requiring the performance of a specific act.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2