Section 54-14-38 – Improper influence on real estate appraisals prohibited–Grounds for discipline.
54-14-38. Improper influence on real estate appraisals prohibited–Grounds for discipline. No mortgage lender, mortgage broker, or mortgage loan originator, required to be licensed or registered by this chapter, with an interest in a real estate transaction or the financing of any loan secured by real estate involving an appraisal assignment may improperly influence or attempt […]
Section 54-14-39 – Conduct not constituting improper influence on real estate appraisals.
54-14-39. Conduct not constituting improper influence on real estate appraisals. No person violates §54-14-38 solely by asking a real estate appraiser to consider additional, appropriate property information, or to provide further detail, substantiation, or explanation for the appraiser’s value conclusion, or to correct errors in the appraisal report, or by withholding payment of an appraisal […]
Section 54-14-40 – Remote work–Requirements.
54-14-40. Remote work–Requirements. An employee of a licensee may work in a remote location other than the business location identified pursuant to §54-14-14, if the licensee: (1)Ensures in-person interactions with consumers are not conducted at the remote location and the remote location is not represented to consumers as a business location; (2)Maintains secure virtual private […]
Section 54-14-29 – Procedure for contesting suspension or revocation.
54-14-29. Procedure for contesting suspension or revocation. Any licensee whose license or registration is subject to suspension or revocation by the director, may contest such suspension or revocation in accordance with the provisions of chapter 1-26. Source: SL 2007, ch 279, §18.
Section 54-14-30 – Annual tax upon net income–Exemptions.
54-14-30. Annual tax upon net income–Exemptions. Any licensee under this chapter, in addition to the license and other fees provided by this chapter, shall pay the annual tax provided in chapter 10-43, upon the net income of the licensee measured by the net income assignable to the licensee’s business in South Dakota. The State of […]
Section 54-14-31 – Promulgation of rules regarding licensing, education, and fees.
54-14-31. Promulgation of rules regarding licensing, education, and fees. The director may promulgate rules pursuant to chapter 1-26 for the pre-licensing education, written testing, continuing education, personal history, and experience checks of mortgage brokers, mortgage brokerages, mortgage lenders, and mortgage loan originators, and for the management and administration of licenses and registrations issued pursuant to […]
Section 54-14-32 – Disposition of fees.
54-14-32. Disposition of fees. Fees collected pursuant to this chapter shall be deposited with the state treasurer in the banking special revenue fund created in §51A-2-30. Expenditures from the fund shall be appropriated through the normal budget process. Source: SL 2007, ch 279, §22.
Section 54-14-33 – Contracts with nationwide mortgage licensing system.
54-14-33. Contracts with nationwide mortgage licensing system. The director may establish relationships or contracts with the nationwide mortgage licensing system and registry or other entities designated by the nationwide mortgage licensing system and registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this […]
Section 54-14-20 – Exemption of certain entities from chapter.
54-14-20. Exemption of certain entities from chapter. The State of South Dakota, any political subdivision of the state, and any quasi-governmental organization created by an executive order of the State of South Dakota and any subsidiary of such organization; any nonprofit corporation formed pursuant to chapter 47-22; any nonprofit United States Treasury Community Development Financial […]
Section 54-14-34 – Promulgation of rules for challenging information entered in nationwide mortgage licensing system.
54-14-34. Promulgation of rules for challenging information entered in nationwide mortgage licensing system. The director shall establish a process through rules promulgated pursuant to chapter 1-26 to allow mortgage loan originators and mortgage brokers to challenge information entered into the nationwide mortgage licensing system and registry by the director. Source: SL 2009, ch 251, §19.