37-5B-19. Books and records.
Every franchisor offering or selling a franchise in this state shall maintain complete and accurate books and records of the offers and sales of franchises. The books and records shall include all of the disclosure documents and advertising and correspondence that have been used with franchisees and prospective franchisees including past and present operations manuals, training records, training manuals, copies of executed agreements, and any due diligence records concerning franchisees. The books and records shall be maintained at an office readily accessible to the franchisor for three years. The books and records may be kept on photographic or electronic media but shall be printed if the director requests.
Source: SL 2008, ch 203, ยง19.
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.