SDCL § 37-25A-4: Revocation or denial of exemption--Procedure.

The director of the Division of Insurance may by order deny or revoke any exemption specified in § 37-25A-3, except the exemption provided in subdivision 37-25A-3(2), with respect to a particular offering of one or more business opportunities. No such order may be entered without appropriate prior notice to all interested parties, opportunity for hearing and written findings of fact and conclusions of law.