Title 37 — TRADE REGULATION
48 chapters · 598 sections in this title.
SDCL § 37-5B-7 Updating disclosure documents
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There is no filing required with the division for updating disclosure documents; but disclosure information shall be updated as follows: (1) Any information in the disclosure document shall be current as of the close of the franchisor's most recent fiscal year. After the close of…
SDCL § 37-5B-8 Start-up financial statements
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For the purposes of § 37-5B-7 , a start-up franchise system that does not yet have audited financial statements, may phase-in the use of audited financial statements by providing, at a minimum, the following statements in the times indicated below: (1) The franchisor's first part…
SDCL § 37-5B-9 Phase-in of financial statements
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For the purposes of § 37-5B-7 , a start-up franchisor may phase-in the disclosure of audited financial statements, if the franchisor: (1) Prepares audited financial statements as soon as practicable; (2) Prepares unaudited statements in a format that conforms as closely as possib…