S.D. Admin. R. 20:08:07:21

Current through Register Vol. 50, page 162, June 24, 2024

Section 20:08:07:21 - Real estate and mortgage-backed securities

The exemption for real estate and mortgage-backed securities specified in SDCL 47-31B-202(11) does not include any transaction which involves a security that is an investment contract or a profit-sharing agreement.

S.D. Admin. R. 20:08:07:21

28 SDR 48, effective 10/10/2001; 30 SDR 211, effective 7/1/2004.

General Authority: SDCL 47-31B-203, 47-31B-605(a)(1), 47-31B-605(a)(3).

Law Implemented: SDCL 47-31B-202(11), 47-31B-203.