S.D. Admin. R. 20:08:07:39
Current through Register Vol. 51, page 54, October 28, 2024
The term, isolated, as used in SDCL 47-31B-202(1), means standing alone, detached, separate as opposed to repeated or successive. Whether a sale is isolated depends upon the facts and circumstances of each transaction in the light of the purpose of chapter 47-31 B. A non-issuer transaction is a transaction or distribution not directly or indirectly for the benefit of the issuer
S.D. Admin. R. 20:08:07:39
General Authority: SDCL 47-31B-605(a)(3).
Law Implemented: SDCL 47-31B-202(1).