{"data":{"id":"us-sd/sdcl-35-4-117","jurisdiction":"us-sd","citation":"SDCL § 35-4-117","heading":"Price of full-service restaurant on-sale license set at or above current fair market value.","body":"Any municipality or county adopting the ordinance pursuant to § 35-4-111 shall, for a period of ten years following adoption of such ordinance, set the price of a new full-service restaurant on-sale license, pursuant to § 35-4-116, at or above the current fair market value. However, the full-service restaurant on-sale license fee may not be less than the minimum on-sale license fee as provided in subdivision 35-4-2(4) or (6). For purposes of this section, the term, current fair market value, means the documented price of the on-sale license most recently sold through an arm's-length transaction, less the value of any real or personal property included in the transaction. If there are no documented sales of on-sale licenses, the municipality or county may request from any on-sale license holder within the municipality or county, the date and price originally paid for its on-sale license to determine the current fair market value.","path":["TITLE 35. ALCOHOLIC BEVERAGES","CHAPTER 35-4. SALE OF BEVERAGES"],"source_url":"https://sdlegislature.gov/Statutes/35-4-117","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"bbada3852259bdeef14485a1521e2048c0be3b32e84f063741ddd7385ec16e0e","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-35-4-116","next":"us-sd/sdcl-35-4-118"},"notice":"GroundRules: Original legal text. Not legal advice."}