<html> <head> <title>Rule 04:01:07:10 Notice of intent to cancel lease -- Remedy of default.</title> <META NAME="Keywords" Content="Administrative Rules 04:01:07:10"> <META NAME="Description" Content="Administrative Rules 04:01:07:10 Notice of intent to cancel lease -- Remedy of default."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>4:01:07:10.&nbsp;&nbsp;Notice of intent to cancel lease -- Remedy of default.</b> The commissioner shall mail to the lessee or assignee, by registered or certified letter, a notice of intention to cancel the lease, specifying the reason for which the lease is subject to cancellation. A notice of intent to cancel is not required for nonpayment of rentals by the date they are due. If the lessee or assignee remedies the default specified in the cancellation notice within 30 days after the mailing of the notice to the lessee or assignee, the commissioner may not order the cancellation of the lease. If the specified default is not remedied, the commissioner may cancel the lease and all the rights of the lessee or assignee under the lease shall terminate.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 22 SDR 79, effective December 7, 1995.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=5-1-7.2">5-1-7.2.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=5-1-7.2">5-1-7.2.</A></p> </div> </body> </html>