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§ 43-15A-11 Fee to accompany notice of intent--Questionnaire--Form and content.

SD Codified L § 43-15A-11 (2019) (N/A)
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43-15A-11. Fee to accompany notice of intent--Questionnaire--Form and content. The notice of intention to sell shall be accompanied by a fee of twenty-five dollars for each condominium unit up to a maximum of five hundred dollars and by a verified copy of a questionnaire provided by the commission which has been properly completed by the developer. The questionnaire will be in such form and content as will require full disclosure of all material facts, including, but not limited to:

(1) A full disclosure of rights and privileges to common areas;

(2) The sales price of each unit;

(3) Down payment requirement;

(4) Interest rate on mortgages;

(5) Estimated annual property tax attributable to the condominium;

(6) Estimated annual fire and hazard insurance attributable to condominium; and

(7) The amount to be charged to the purchaser under the maintenance contract and under what circumstances the costs may be raised.Source: SL 1975, ch 270, § 7; SL 1986, ch 302, § 81.

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