43-15A-26. Investigation of developer suspected of violations--Examination of books--Developers to keep records available.
If the Real Estate Commission has reason to believe that a developer is violating any provision set forth in §§43-15A-10 to 43-15A-26, inclusive, or the rules of the commission promulgated pursuant thereto, the commission may investigate the developer's project and examine the books, accounts, records, and files used in the project of the developer. For the purposes of examination, the developer is required to keep and maintain records of all sales transactions and of the funds received by him pursuant thereto, and to make them accessible to the commission upon reasonable notice and demand.
Source: SL 1975, ch 270, §19; SL 1986, ch 302, §93.
Structure South Dakota Codified Laws
Section 43-15A-1 - Definition of terms.
Section 43-15A-2 - Estates subject to chapter.
Section 43-15A-3 - Establishment of condominium project--Master deed or lease.
Section 43-15A-4 - Particulars required in master deed or lease.
Section 43-15A-5 - Common areas defined.
Section 43-15A-6 - Joint or common ownership.
Section 43-15A-7 - Exclusive and common rights of owners.
Section 43-15A-8 - Recording of transfers and encumbrances of individual units.
Section 43-15A-9 - Recording of master deeds and leases--Tax inapplicable to original recordation.
Section 43-15A-11 - Fee to accompany notice of intent--Questionnaire--Form and content.
Section 43-15A-12 - Inspection of condominium project.
Section 43-15A-13 - Waiver of initial inspection.
Section 43-15A-15 - Deposit and expenditure of fees.
Section 43-15A-16 - Public report of examination findings--Status of report.
Section 43-15A-20 - True copies to be exact reproductions of commission's reports.
Section 43-15A-21 - Receipts kept by developer--Inspection--Duration.
Section 43-15A-22 - Material change in offering prohibited without written notice.
Section 43-15A-23 - Deposits held in escrow until delivery of deed.
Section 43-15A-25 - False statement, fraud, or violation of provisions as misdemeanor.
Section 43-15A-30 - Promulgation of rules to administer and enforce chapter.