South Dakota § 37-5B-50 Limitation of actions.

South Dakota Statutes

§ 37-5B-50 — Limitation of actions.

South Dakota·Title 37 TRADE REGULATION·Ch. 37-5B FRANCHISE INVESTMENT

No person may obtain relief for an action pursuant to § 37-5B-49 :

(1)In an action for rescission pursuant to §§ 37-5B-4 , 37-5B-7 to 37-5B-9 , inclusive, or 37-5B-17 unless the action is instituted within one year after the violation occurred;

(2)In an action for actual damages, costs, and attorneys and experts fees unless instituted within the earlier of two years after discovery of the facts constituting the violation or three years after the violation; or (3) Upon receipt by the franchisee of a rescission offer in a form approved by the director unless the action is instituted within ninety days after the receipt by the franchisee of a rescission.

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No person may obtain relief for an action pursuant to § 37-5B-49 : (1) In an action for rescission pursuant to §§ 37-5B-4 , 37-5B-7 to 37-5B-9 , inclusive, or 37-5B-17 unless the action is instituted within one year after the violation occurred; (2) In an action for actual damages, costs, and attorneys and experts fees unless instituted within the earlier of two years after discovery of the facts constituting the violation or three years after the violation; or (3) Upon receipt by the franchisee of a rescission offer in a form approved by the director unless the action is instituted within ninety days after the receipt by the franchisee of a rescission.

South Dakota § 37-5B-50 (Limitation of actions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.