<html> <head> <title>Rule 20:08:07:35 Merger and consolidation.</title> <META NAME="Keywords" Content="Administrative Rules 20:08:07:35"> <META NAME="Description" Content="Administrative Rules 20:08:07:35 Merger and consolidation."> <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>20:08:07:35.&nbsp;&nbsp;Merger and consolidation.</b> The transactional exemption granted pursuant to SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-202">47-31B-202(18)</A> does not apply if the transaction was made for the purpose of avoiding the registration requirements of SDCL chapter 47-31B.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 30 SDR 211, effective July 1,&nbsp; 2004.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=47-31B-605(a)(1)">47-31B-605(a)(1).</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=47-31B-202">47-31B-202(18).</A></p> </div> </body> </html>