43-15B-1.'Time-share' defined.For purposes of this chapter, the term 'time-share' means the right to use and occupy a living unit, of which the use and occupancy right is divided among persons holding similar interests within that living unit according to a fixed or variable time schedule on a periodic basis and allotted from the use or occupancy into which the time-share project is divided. There is no distinction between a 'time-share use' and a 'time-share estate.' Source: SL 1983, ch 273, §1.
South Dakota Legal Code