No. South Dakota has no statute requiring HOAs or condominium associations to conduct reserve studies, fund reserves, or disclose reserve levels. The state's condominium chapter (SDCL ch. 43-15A) is silent on reserves and budgets, and South Dakota has no planned-community act at all, so any reserve requirement comes only from an association's own governing documents.
Verified against the statute 2026-07-06
No South Dakota association type is subject to a reserve mandate. SDCL ch. 43-15A covers only condominiums created under the chapter by recorded master deed; planned-community HOAs are governed solely by their governing documents and, if incorporated, the South Dakota Nonprofit Corporation Act (SDCL ch. 47-22).
No statutory cycle — reserve studies are not required at any interval.
No statutory reserve-funding minimum and no waiver framework. Reserve contributions are set entirely by the board under the association's CC&Rs and bylaws.
No statute requires reserve balances or reserve studies to be disclosed to owners or purchasers. Buyers must rely on the governing documents and whatever financial statements the association voluntarily provides.
Governs condominiums whose developers opt in by recording a master deed; its 30 sections cover formation, ownership, sales, and enforcement but contain no reserve-study, reserve-funding, or budget provisions.
Independently re-verified: the sdlegislature.gov SPA blocks direct fetches, but the legislature's own API endpoint (sdlegislature.gov/api/Statutes/43-15A.html, HTTP 200) returned the full chapter index — exactly 30 sections (43-15A-1 through 43-15A-30, covering formation, master deeds, sales regulation, and enforcement) with zero occurrences of 'reserve' or 'budget'. Informational only — not legal advice. Confirm with the primary source and a community-association attorney licensed in South Dakota. Report an issue.
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