SDCL § 37-5B-14: Exemptions from notice filing.

The following franchises are subject to this chapter but are exempt from § 37-5B-4 if any of the following conditions are satisfied:

(1) The offer or sale to an existing franchisee of an additional franchise that is substantially the same as the franchise that the franchisee has operated for at least two years at the time of the offer or sale; or

(2) The offer or sale of a franchise to a bank, saving and loan association, financial organization or life insurance corporation within the meanings given these terms by chapters 43-41B, 52-1, and 58-1.