37-26-2. Fraudulent offer or sale of membership as felony.
Any person who employs, directly or indirectly, any device, scheme, or artifice to defraud in connection with the offer or sale of any membership or engages, directly or indirectly, in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person in connection with the offer, purchase, or sale of any membership is guilty of a Class 5 felony.
Source: SL 1975, ch 246, §14; SL 1977, ch 190, §297.
Structure South Dakota Codified Laws
Section 37-26-1 - Definition of terms.
Section 37-26-2 - Fraudulent offer or sale of membership as felony.
Section 37-26-3 - Bond required of buying club--Amount.
Section 37-26-4 - Loss covered by bond--Filing and approval of bond--Action on bond.
Section 37-26-5 - Liability of surety limited to amount of bond.
Section 37-26-7 - Violation of chapter as felony.
Section 37-26-8 - Punishment under other criminal laws not prevented by chapter.
Section 37-26-9 - Consumer protection avoidance period provisions applied.
Section 37-26-10 - Civil action for damages from violation of chapter--Equitable relief.