Section 50-12-7 - Transfer of aircraft to new owner--Delivery of certificate to department--Violationas 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. 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 such aircraft is transferred to the new owner, the dealer shall forthwith deliver the aircraft dealer's certificate and aircraft dealer 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 the affidavit 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.

Source: SDC 1939, § 2.0704 as enacted by SL 1966, ch 1, § 9; SL 1993, ch 349, § 2; SL 2010, ch 227, § 87.