Section 37-25A-5 - Revocation or denial of exemption without hearing pending final determination--Notice--Request for hearing. - South Dakota Statutes

37-25A-5. Revocation or denial of exemption without hearing pending final determination--Notice--Request for hearing. If the public interest or the protection of purchasers so requires, the director of the Division of Securities may by order deny or revoke without a hearing any of the specified exemptions, except the exemption provided in subdivision 37-25A-3(2), pending final determination of any proceedings under this chapter. Upon the entry of the order, the director shall promptly notify all interested parties that an order has been entered and of the reasons therefor and that within fifteen days of the receipt of a written request the matter shall be set for hearing. If no hearing is requested and none is ordered by the director, the order shall remain in effect until it is modified or vacated by the director. If a hearing is requested and none is ordered by the director, the order shall remain in effect until it is modified or vacated by the director. If a hearing is requested or ordered, the director, after notice of an opportunity for hearing to all interested persons, may not modify, vacate, or extend the order until a final determination has been made.

Source: SL 1985, ch 305, § 5.