FRANCHISING IN SOUTH DAKOTA
Registration or Filing Required?
Yes (Registration)
Business Opportunity Laws?
Yes
South Dakota is a franchise filing state. Prior to offering or selling a franchise in South Dakota, you must file a notice with a copy of your FDD with the Division of Insurance and Securities Regulation of the South Dakota Department of Labor and Regulation. South Dakota does not assign an examiner to review your FDD and there is no FDD registration process. The initial South Dakota filing fee is $250 and the annual renewal fee is $150. Your filing must be renewed on an annual basis. You may must file your registration or renewal electronically through NASAA’s Electronic Filing Depository which will require payment through ACH and additional fees.
Your notice must be renewed on an annual basis and although South Dakota does not review or formally register your FDD, you must certify in your notice that the information contained in your FDD is accurate and without any misrepresentations. Your filing is effective upon receipt by the director and you should confirm the effectiveness of your filing before offering or selling franchises in South Dakota.