34-12-46. Construction--Fees.Any new continuing care retirement community may not start construction until escrowed deposits of at least ten percent of the proposed entrance fee has been received for at least fifty percent of the proposed living units planned to be constructed. This section does not apply to the building of a continuing care retirement community if the funds used for building such facility are exclusively derived from sources other than prospective residents. Source: SL 1998, ch 206, §7.
South Dakota Legal Code