S.D. Admin. R. 20:69:12:14

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:69:12:14 - Limitation on plan managers

A plan manager, including the developer if it is also the plan manager, may not undertake the duties, responsibilities, and obligations of managing a time-share plan if the time-share unit is located in the state unless the plan manager files and the commission accepts the following:

(1) The time-share plan or plans that it intends to manage;

(2) Its principal office address and telephone number;

(3) If a corporation, the name, address, and telephone number of its responsible managing employee;

(4) A sworn statement from the developer listing the plan manager's duties, responsibilities, and obligations;

(5) A sworn statement from the plan manager stating its duties, responsibilities, and obligations, as set out in § 20:69:12:19; and

(6) The address where all accounting records, including receipts, expenditures, and payment vouchers, are maintained.

S.D. Admin. R. 20:69:12:14

10 SDR 68, effective 1/1/1984; 12 SDR 102, effective 12/22/1985; 12 SDR 151, 12 SDR 155, effective 7/1/1986; transferred from

General Authority: SDCL 36-21A-89, 43-15B-6.

Law Implemented: SDCL 43-15B-3, 43-15B-6.