South Dakota § 50-12-7 Transfer of aircraft to new owner--Delivery of certificate to department--Violation as misdemeanor--Civil penalty.

South Dakota Statutes

§ 50-12-7 — Transfer of aircraft to new owner--Delivery of certificate to department--Violation as misdemeanor--Civil penalty.

South Dakota·Title 50 AVIATION·Ch. 50-8 AIRCRAFT DEALERS

Upon the sale of any aircraft bearing an aircraft dealer's certificate, the dealer shall comply with §§ 50-11-22 and 50-11-23 . If possession of an aircraft is transferred to a new owner, the dealer shall deliver the aircraft dealer's certificate and sales affidavit to the department. The department shall hold the certificate until an application is received from the dealer for transfer to another aircraft. Any person who makes a false statement of a material fact on a sales affidavit under this section is guilty of a Class 1 misdemeanor. Failure to report aircraft purchases and sales as required under this chapter is punishable by a civil penalty equal to the annual registration fee as provided in § 50-11-12 . A civil penalty imposed under this section shall be deposited into the aeronaut

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Upon the sale of any aircraft bearing an aircraft dealer's certificate, the dealer shall comply with §§ 50-11-22 and 50-11-23 . If possession of an aircraft is transferred to a new owner, the dealer shall deliver the aircraft dealer's certificate and sales affidavit to the department. The department shall hold the certificate until an application is received from the dealer for transfer to another aircraft. Any person who makes a false statement of a material fact on a sales affidavit under this section is guilty of a Class 1 misdemeanor. Failure to report aircraft purchases and sales as required under this chapter is punishable by a civil penalty equal to the annual registration fee as provided in § 50-11-12 . A civil penalty imposed under this section shall be deposited into the aeronautics fund.

South Dakota § 50-12-7 (Transfer of aircraft to new owner--Delivery of certificate to department--Violation as misdemeanor--Civil penalty.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.