<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><title></title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: center; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0 { background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000000 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s7ed41692-df1b-4feb-95ab-26d5d7f407f9000001 { background: white; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002 { margin-top: 0; margin-bottom: 0; margin-left: 0; margin-right: 0; text-indent: 0.00in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } span.s7ed41692-df1b-4feb-95ab-26d5d7f407f9000003 { background: white; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004 { background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005 { color: #0000FF; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000006 { margin-top: 0; margin-bottom: 0; margin-left: 1.30in; margin-right: 0; text-indent: -1.30in; text-align: justify; background: white; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; } </style></head><body><div><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0"><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0">CHAPTER </span><a href="https://sdlegislature.gov/Rules?Rule=20:08:05"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000000">20:08:05</span></a></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0"><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9000001"> </span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0">INVESTMENT ADVISER RULES</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9000003"> </span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9000003"> </span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">Section</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:01"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:01</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:02"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:02</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:03"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:03</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:04"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:04</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:05"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:05</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:06"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:06</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:07"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:07</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:08"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:08</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:09"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:09</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:10"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:10</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:11"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:11</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:12"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:12</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:13"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:13</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Repealed.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:14"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:14</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Investment adviser representative definitions.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000006"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:15"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:15</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Application for investment adviser and investment adviser representative registration.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:16"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:16</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Notice filing requirements for federal covered investment advisers.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:17"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:17</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Electronic filing with designated entity.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:18"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:18</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        IARD transition rule.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000006"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:19"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:19</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Withdrawal of investment adviser and investment adviser representative registration.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:20"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:20</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Promptly remedied.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:21"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:21</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Minimum financial requirements for investment advisers.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:22"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:22</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Financial reporting requirements for investment advisers.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:23"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:23</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Recordkeeping requirements.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:24"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:24</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Bonding requirements for certain investment advisers.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:25"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:25</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Custody requirements for investment advisers.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:26"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:26</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Investment adviser brochure.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:27"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:27</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Examination requirements.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:27.01"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:27.01</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">    Investment adviser representative examination validity extension program.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:28"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:28</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Prohibited conduct in providing investment advice.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><a href="https://sdlegislature.gov/Rules?Rule=20:08:05:29"><span class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000005">20:08:05:29</span></a><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9C0-000004">        Contents of an investment advisory contract.</span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9000003"> </span></p><p dir="ltr" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9P0-000002"><span xml:space="preserve" class="s7ed41692-df1b-4feb-95ab-26d5d7f407f9000003"> </span></p></div></body></html>