37-25A-45. Filing and registration not constituting finding of truthfulness or approval--Contrary representations prohibited.Neither the fact that an application for registration has been filed nor the fact that a business opportunity is effectively registered constitutes a finding by the director of the Division of Insurance that any document filed under this chapter is true, complete and not misleading. Neither any such fact nor the fact that an exemption or exception is available for a business opportunity means that the director has passed upon the merits or qualifications of, or recommend or given approval to, any person or business opportunity. No person may make or cause to be made to any purchaser any representation inconsistent with the foregoing. Source: SL 1985, ch 305, §45; SL 2017, ch 231 (Ex. Ord. 17-2), §19, eff. Apr. 13, 2017.
South Dakota Legal Code