37-5B-11. Signed receipt.
The person offering or selling any franchise subject to the requirements of §§37-5B-17 and 37-5B-18 shall obtain a receipt, signed by the prospective franchisee, acknowledging that the prospective franchisee has received a copy of the disclosure document prior to the prospective franchisee affixing a signature to any franchise or other agreement and prior to the payment of any consideration by the prospective franchisee. The receipt shall be kept in the possession of the franchise seller, subject to inspection by the director, for a period of three years from the date the receipt is taken.
Source: SL 2008, ch 203, §11.
Structure South Dakota Codified Laws
Chapter 05B - Franchise Investment
Section 37-5B-1 - Definitions.
Section 37-5B-2 - Jurisdiction.
Section 37-5B-3 - Offer or sale not made in state.
Section 37-5B-4 - Notice filing required.
Section 37-5B-5 - Notice filing provisions.
Section 37-5B-7 - Updating disclosure documents.
Section 37-5B-8 - Start-up financial statements.
Section 37-5B-9 - Phase-in of financial statements.
Section 37-5B-10 - Negotiation of terms.
Section 37-5B-11 - Signed receipt.
Section 37-5B-12 - Exemptions from chapter.
Section 37-5B-13 - Exemptions from notice filing and obligations to deliver disclosure document.
Section 37-5B-14 - Exemptions from notice filing.
Section 37-5B-15 - Exemptions by director.
Section 37-5B-16 - Thresholds.
Section 37-5B-17 - Delivery of disclosure document.
Section 37-5B-18 - Time of delivery of disclosure document.
Section 37-5B-19 - Books and records.
Section 37-5B-20 - Burden of proof.
Section 37-5B-21 - Arbitration.
Section 37-5B-22 - Consent to service of process.
Section 37-5B-23 - Advertisement.
Section 37-5B-24 - Fraud--Class 4 felony.
Section 37-5B-25 - Fraud--Class 6 felony.
Section 37-5B-26 - Prohibited practices.
Section 37-5B-27 - Director approval not permitted.
Section 37-5B-28 - Administration.
Section 37-5B-29 - Promulgation of rules.
Section 37-5B-31 - Filed documents.
Section 37-5B-32 - Records of filings and orders.
Section 37-5B-33 - Public and nonpublic records.
Section 37-5B-34 - Copies of notice filings and orders.
Section 37-5B-35 - Investigations.
Section 37-5B-36 - Request for information.
Section 37-5B-37 - Subpoena powers.
Section 37-5B-39 - Unauthorized use of information--Misdemeanor.
Section 37-5B-40 - Cooperation with other agencies.
Section 37-5B-41 - Cease and desist orders.
Section 37-5B-42 - Order to show cause.
Section 37-5B-43 - Civil penalty.
Section 37-5B-44 - Order or request for hearing.
Section 37-5B-45 - Effect of order without hearing.
Section 37-5B-46 - Affirmance, modification, or vacation of order.
Section 37-5B-47 - Civil action by attorney general.
Section 37-5B-48 - Injunctive relief.
Section 37-5B-49 - Civil damages or rescission.
Section 37-5B-50 - Limitation of actions.
Section 37-5B-51 - Pending actions and actions based on prior conduct.