36-21B-1. Appraisers to be certified, licensed, or registered–Injunction for violation. Any person who performs a real estate appraisal or advertises or holds himself or herself out to the general public as a real estate appraiser in this state shall be certified, licensed, or registered by the Department of Labor and Regulation unless exempt under another […]
36-21B-10. Contested cases–Assessment of expenses. The secretary may assess to a licensee or applicant all or part of the actual expenses of a contested case proceeding resulting in the discipline or censure of the licensee, suspension or revocation of the licensee’s license, or the denial of a license to the applicant. Source: SL 2001, ch […]
36-21B-11. Improper influence on real estate appraisals prohibited–Grounds for discipline. No real estate appraiser 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 to improperly influence the development, reporting, result, or review of a real estate appraisal […]
36-21B-12. Conduct not constituting improper influence on real estate appraisals. No person violates §36-21B-11 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 […]
36-21B-13 . Evaluation for federally insured depository institution. A certified, licensed, or registered appraiser may provide an evaluation of real estate for a federally insured depository institution if the evaluation is permitted by law, regulation, or regulatory guidance. Any evaluation by an appraiser must be conducted in accordance with federal and state laws and rules, […]
36-21B-2. Definitions. Terms used in this chapter mean: (1)”Appraisal,” the act or process of developing an opinion of value of real estate for another and for compensation; (2)”Appraisal practice,” any valuation service, including appraisal, appraisal review, or appraisal consulting, performed by a person acting as an appraiser; (3)”Evaluation,” a valuation of real estate prepared for […]
36-21B-2.2. Criminal background checks. Each applicant for initial certification, licensure, or registration as a state-registered appraiser, state-licensed appraiser, state-certified residential appraiser, or state-certified general appraiser in this state shall submit to a state and federal criminal background investigation by means of fingerprint checks by the Division of Criminal Investigation and the Federal Bureau of Investigation. […]
36-21B-2.3. Grounds for denying issuance of certificate. The department shall deny issuance of a certificate to any applicant who: (1)Has had the ability to perform appraisals revoked in any governmental jurisdiction within the five year period immediately preceding the date of application; (2)Has been convicted of, or pled guilty or nolo contendere to, a felony […]
36-21B-3. Promulgation of rules. The secretary of the Department of Labor and Regulation may promulgate rules pursuant to chapter 1-26 relating to appraisers and appraisals in the following areas: (1)Certification, licensing, and registration of appraisers; (2)Definition of terms; (3)Uniform standards of professional appraisal practice; (4)Application for and issuance of certificates; (5)Examinations and examination procedures; (6)Pre-certification […]
36-21B-4. Promulgation of rules to establish fees for certification of appraisers. The secretary of the Department of Labor and Regulation may promulgate rules pursuant to chapter 1-26 to establish fees for the certification, licensing, and registration of real estate appraisers as follows: (1)Application fees not to exceed five hundred dollars; (2)Renewal fees not to exceed […]
36-21B-5. Fees credited to Real Estate Appraisers Fund. All moneys coming into the custody of the Department of Labor and Regulation including certificate fees, renewal fees, reciprocity fees, penalty fees, and any other payments, shall be deposited by the department to the state treasurer weekly, or as prescribed by the state treasurer. The state treasurer […]
36-21B-6. Legislative appropriations of Real Estate Appraiser Fund. Any expenditure of money out of the South Dakota Real Estate Appraiser Fund shall be made only upon appropriation by the Legislature through either the general appropriations act or a special appropriations bill. Source: SL 1995, ch 223, §7A.
36-21B-7. Penalty for violation of statute or rule. The secretary of the Department of Labor and Regulation may impose a monetary penalty not to exceed one thousand dollars or require additional educational course requirements, or both, of a person licensed pursuant to this chapter upon proof of a violation of the rules relating to appraisers […]
36-21B-8.Application of chapter. Unless required by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, Pub. L. No. 101-73, 103 Stat. 183 (1989), 12 U.S.C. §3310, et seq., this chapter does not apply to the following: (1)Any public officer while performing public duties; (2)Any bank, trust company, savings and loan association, public utility, or […]
