reglab/statecodes huggingface dataset:
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-97 - Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation.

36-21A-97. Issuance of certificate--Annual fee--Cancellation or renewal of certificate--Investigation.
If the application is approved, the commission shall issue a certificate of registration to the applicant. After issuance of a certificate, an annual fee of fifty dollars plus ten dollars for each one hundred lots or fraction thereof computed on the number of lots in the original application shall be due and payable on or before January first of each year. Failure to remit annual fees when due shall automatically cancel the certificate. The certificate may remain valid if the commission determines from satisfactory investigation that the certificate should be renewed. Before issuing the renewal certificate each year, the certificate holder shall furnish to the commission information as may be requested by the commission. If an investigation is required, the cost of making the investigation shall be paid by the certificate holder in advance.
Source:
SL 1992, ch 273, §97.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-98 - Recording of instrument conveying interest in subdivision.

36-21A-98. Recording of instrument conveying interest in subdivision.
An instrument conveying an interest in the subdivided real estate shall be in recordable form and the subdivider or buyer may record such instrument in the county where the real estate is located and in the office where deeds are recorded.
Source:
SL 1992, ch 273, §98.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-99 - Cease and desist orders to prevent subdivision sales provisions violations.

36-21A-99. Cease and desist orders to prevent subdivision sales provisions violations.
The executive director, with the consent of the commission, may issue a cease and desist order upon determination that the provisions of §§36-21A-93 to 36-21A-98, inclusive, have been or are about to be violated.
Source:
SL 1992, ch 273, §99.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-100 - Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest.

36-21A-100. Contracts violating subdivision sale provisions void and unenforceable--Recovery of money paid plus interest.
Failure to comply with the provisions of §§36-21A-93 to 36-21A-98, inclusive, make any contract entered into in this state void and unenforceable. Money paid under that contract to the certificate holder, together with interest at the Category A rate of interest as established in §54-3-16 from date of the payment, may be recovered in a civil action.
Source:
SL 1992, ch 273, §100.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-101 - Establishment of real estate recovery fund--Purpose.

36-21A-101. Establishment of real estate recovery fund--Purpose.
The commission shall establish and maintain a real estate recovery fund, which shall be used to provide a source for payment of unsatisfied judgments obtained by persons aggrieved by the acts of a person licensed under this chapter. The commission shall maintain one hundred thousand dollars in the fund to be used strictly for the purpose of recovery of unsatisfied judgments against licensees. The moneys deposited in the fund shall be invested by the commission by establishing an account with the state investment council pursuant to chapter 4-5, and all interest and profits derived from such investment, if the fund exceeds one hundred thousand dollars, shall be transferred to the commission's general fund. The interest and profits shall be retained in the fund until its total reaches one hundred thousand dollars.
Source:
SL 1992, ch 273, §101.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-102 - Minimum balance in recovery fund--Separate fee payable to restore minimum balance.

36-21A-102. Minimum balance in recovery fund--Separate fee payable to restore minimum balance.
If at the end of any calendar year the amount remaining in the real estate recovery fund is less than one hundred thousand dollars, every person registering pursuant to this chapter shall pay, in addition to the biennial registration fee, a separate fee in an amount declared sufficient by the commission to restore the balance in the fund to at least one hundred thousand dollars.
Source:
SL 1992, ch 273, §102.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-103 - Notice to commission of claims against recovery fund--Intervention by commission.

36-21A-103. Notice to commission of claims against recovery fund--Intervention by commission.
A person commencing an action that may result in the filing of a claim against the real estate recovery fund shall serve a copy of the summons and complaint upon the commission within ten days of service upon the defendant. The commission may intervene in the action pursuant to §15-6-24(a).
Source:
SL 1992, ch 273, §103.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-104 - Application by unsatisfied judgment creditor for payment of loss from recovery fund--Maximum payment--Service on commission and judgment debtor--Hearing on application for payment--Continuances.

36-21A-104. Application by unsatisfied judgment creditor for payment of loss from recovery fund--Maximum payment--Service on commission and judgment debtor--Hearing on application for payment--Continuances.
If any person obtains a final judgment in any court of competent jurisdiction against a person licensed under this chapter, on grounds of fraudulent, deceptive or dishonest practices, or conversion of trust funds arising directly out of any transaction when the judgment debtor was licensed and performed acts for which a license is required under this chapter, and which cause of action accrued on or after July 1, 1977, the aggrieved person may, upon the judgment becoming final, and upon termination of all proceedings, including reviews, appeals and execution and levy, file a verified application in the circuit court, sixth circuit, Hughes county, for an order directing payment out of the real estate recovery fund of the amount of actual and direct loss in the transaction up to the sum of fifteen thousand dollars of the amount remaining unpaid upon the judgment. Nothing in this chapter may obligate the fund for more than fifteen thousand dollars for each person. A copy of the verified application shall be served upon the commission and upon the judgment debtor, and a certificate or affidavit of such service filed with the court. The court shall conduct a hearing upon the application thirty days after service of the application upon the commission. Upon petition of the commission, the court shall continue the hearing up to an additional sixty days, and upon a showing of good cause may continue the hearing for such further period as the court considers appropriate.
Source:
SL 1992, ch 273, §104.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-105 - Facts to be shown at hearing by applicant for payment from recovery fund.

36-21A-105. Facts to be shown at hearing by applicant for payment from recovery fund.
At the hearing the applicant shall show the following:
(1)He is not a spouse of the judgment debtor, or the personal representative of such spouse;
(2)If he is licensed under this chapter, he was not acting as a principal or agent in a real estate transaction;
(3)He has complied with all the requirements of §§36-21A-101 to 36-21A-115, inclusive;
(4)He has obtained a judgment stating the amount thereof and the amount owing thereon at the date of the application;
(5)He has made all reasonable searches and inquiries to ascertain whether the judgment debtor possesses real or personal property or other assets, liable to be sold or applied in satisfaction of the judgment;
(6)If he has discovered property or other assets owned by the judgment debtor and liable to be applied in satisfaction of the debt he shall further show that he has taken all necessary action and proceedings for the realization thereof, and that the amount thereby realized was insufficient to satisfy the judgment, stating the amount so realized and the balance remaining due on the judgment after application of the amount realized;
(7)Any amount recovered from the judgment debtor or debtors and any amount recovered in out-of-court settlements as to particular defendants, if any, have been applied to the actual and compensatory damages awarded by the court;
(8)He has diligently pursued his remedies against all the judgment debtors and all other persons liable to him in the transaction for which he seeks recovery from the real estate recovery fund; and
(9)He is making the application within one year after the judgment becomes final, or within one year after the termination of any review or appeal of the judgment.
Source:
SL 1992, ch 273, §105.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-106 - False statement in proceedings against recovery fund as perjury.

36-21A-106. False statement in proceedings against recovery fund as perjury.
Any person who knowingly files with the commission any notice, statement or other document required under §§36-21A-101 to 36-21A-115, inclusive, which is false or untrue or contains any material misstatement of fact is guilty of perjury.
Source:
SL 1992, ch 273, §106.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-107 - Burden of proof as to fraud or conversion--Presumption when original action was contested by debtor.

36-21A-107. Burden of proof as to fraud or conversion--Presumption when original action was contested by debtor.
If an applicant's judgment is by default, stipulation or consent, or if the action against the licensee was defended by a trustee in bankruptcy, the applicant has the burden of proving his cause of action for fraudulent, deceptive or dishonest practices or conversion of trust funds. Otherwise, the judgment creates a rebuttable presumption of the alleged fraudulent, deceptive or dishonest practices or alleged conversion of trust funds.
Source:
SL 1992, ch 273, §107.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-108 - Defense by commission of action against recovery fund--Motion for dismissal--Compromise.

36-21A-108. Defense by commission of action against recovery fund--Motion for dismissal--Compromise.
The commission may defend any action on behalf of the fund and shall have recourse to all appropriate means of defense and review including examination of witnesses. The commission may move the court at any time to dismiss the application if it appears there are no triable issues and the petition is without merit. The motion may be supported by affidavit of any person having knowledge of the facts and may be made on the basis that the petition, and the judgment referred to therein, does not form the basis for a meritorious recovery claim within the purview of §§36-21A-101 to 36-21A-115, inclusive. The commission shall give written notice to the applicant and judgment debtor ten days before the date set for hearing such motion. The commission may, subject to court approval, compromise a claim based upon the application of an aggrieved party. It is not bound by any prior compromise or stipulation of the judgment debtor.
Source:
SL 1992, ch 273, §108.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-109 - Defense by judgment debtor in action against recovery fund.

36-21A-109. Defense by judgment debtor in action against recovery fund.
The judgment debtor may defend any such action on his own behalf and shall have recourse to all appropriate means of defense and review including examination of witnesses.
Source:
SL 1992, ch 273, §109.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-110 - Payment from recovery fund ordered only on valid cause of action--Prior judgment only prima facie evidence.

36-21A-110. Payment from recovery fund ordered only on valid cause of action--Prior judgment only prima facie evidence.
If the court proceeds upon an application, it shall order payment out of the real estate recovery fund only upon a determination that the applicant has a valid cause of action, and has complied with the provisions of §§36-21A-101 to 36-21A-115, inclusive. The judgment shall be only prima facie evidence of such cause of action and is not conclusive.
Source:
SL 1992, ch 273, §110.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-111 - Order for payment from recovery fund.

36-21A-111. Order for payment from recovery fund.
If the court finds after the hearing that the claim should be levied against the portion of the fund allocated for the purpose of recovery of unsatisfied judgments, the court shall enter an order directed to the commission requiring payment from the fund in the amount payable upon the claim.
Source:
SL 1992, ch 273, §111.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-112 - Maximum liability of fund for acts of one licensee.

36-21A-112. Maximum liability of fund for acts of one licensee.
The liability of the fund for the acts of a licensee, when acting as such and occurring before the date of the court order entered pursuant to §§36-21A-101 to 36-21A-115, inclusive, is terminated whenever such order authorizes payments from the fund for judgments or unsatisfied portions thereof, in an aggregate amount of fifteen thousand dollars on behalf of such licensee.
Source:
SL 1992, ch 273, §112.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-113 - Deferred payment of authorized claim--Interest.

36-21A-113. Deferred payment of authorized claim--Interest.
If, at any time, the money deposited in the fund is insufficient to satisfy any duly authorized claim or portion thereof, the commission shall, when sufficient money has been deposited in the real estate recovery fund, satisfy those unpaid claims or portions thereof, in the order that the claims or portions thereof were originally filed, plus accumulated interest at the Category A rate of interest as established in §54-3-16.
Source:
SL 1992, ch 273, §113.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-114 - Suspension of license when payment from fund authorized--Repayment to fund required for reinstatement.

36-21A-114. Suspension of license when payment from fund authorized--Repayment to fund required for reinstatement.
If the commission pays from the fund any amount in settlement of a claim or toward satisfaction of a judgment against a licensee, the license shall automatically be suspended upon the effective date of an order by the court authorizing payment from the fund. No licensee may be reinstated or issued a license until he has repaid in full the amount paid from the fund on his account plus interest thereon at the Category A rate of interest as established in §54-3-16. A discharge in bankruptcy does not relieve a person from the penalties and disabilities provided in this section.
Source:
SL 1992, ch 273, §114.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-115 - Subrogation of fund to rights under judgment paid--Assignment.

36-21A-115. Subrogation of fund to rights under judgment paid--Assignment.
If, upon the order of the court, the commission has paid from the fund any sum to the judgment creditor, the commission shall be subrogated to all of the rights of the judgment creditor to the extent of the amount so paid. The judgment creditor shall assign all his right, title and interest in the judgment to the extent of the amount so paid to the commission and any amount and interest so recovered by the commission on the judgment shall be deposited to the fund.
Source:
SL 1992, ch 273, §115.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-116 - Other disciplinary powers unimpaired--Effect of repayment to fund.

36-21A-116. Other disciplinary powers unimpaired--Effect of repayment to fund.
Nothing contained in §§36-21A-101 to 36-21A-115, inclusive, limits the authority of the commission to take disciplinary action against any licensee under other provisions of this chapter. The repayment in full of all obligations to the fund by a licensee does not nullify or modify the effect of any other disciplinary proceeding brought pursuant to the provisions of §§36-21A-101 to 36-21A-115, inclusive.
Source:
SL 1992, ch 273, §116.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-119 - Errors and omissions insurance required of salesmen and brokers.

36-21A-119. Errors and omissions insurance required of salesmen and brokers.
The real estate commission shall adopt rules, pursuant to chapter 1-26, requiring as a condition of licensure that all real estate salesman and brokers, except those who hold inactive licenses, carry errors and omissions insurance covering all activities contemplated under this chapter.
Source:
SL 1993, ch 288, §1.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-120 - Group insurance coverage authorized--Independent errors and omissions coverage.

36-21A-120. Group insurance coverage authorized--Independent errors and omissions coverage.
The Real Estate Commission may negotiate by bid with an insurance provider for a group policy under which coverage is available to all licensees with no right on the part of the insurer to cancel any licensee. Any licensee may obtain errors and omissions insurance independently if the coverage complies with the minimum requirements established by the commission.
Source:
SL 1993, ch 288, §2.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-121 - Commission to determine conditions of errors and omissions coverage.

36-21A-121. Commission to determine conditions of errors and omissions coverage.
The Real Estate Commission shall determine the terms and conditions of coverage required by §36-21A-119, including the minimum limits of coverage, the permissible deductible and the permissible exceptions.
Source:
SL 1993, ch 288, §3.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-122 - Notice of terms and conditions of errors and omissions--Certificate of coverage.

36-21A-122. Notice of terms and conditions of errors and omissions--Certificate of coverage.
Each licensee shall be notified of the required terms and conditions of coverage at least thirty days before the biennial license renewal date. A certificate of coverage, showing compliance with the required terms and conditions of coverage, shall be filed annually with the real estate commission by each licensee who elects not to participate in the group insurance program administered by the Real Estate Commission.
Source:
SL 1993, ch 288, §4.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-124 - Employment status--Independent contractor.

36-21A-124. Employment status--Independent contractor.
For purposes of determining employment status, any broker, broker associate, and salesperson who is a natural person and licensed under this chapter is engaged in an independently established profession. Any such licensee is an independent contractor if:
(1)The licensed broker with whom the licensee is affiliated does not specify by other than general policy the time, method, and location of the licensee's services; and
(2)The licensed broker with whom the licensee is affiliated compensates the licensee on the basis of work performed without withholding and remitting federal income and social security taxes; and
(3)The licensed broker with whom the licensee is affiliated provides only incidental supplies, equipment, and facilities, while the licensee assumes responsibility for vehicular, educational, and other significant professionally related expenses; and
(4)Either party to the relationship may terminate it at will and without liability.
Source:
SL 1995, ch 222.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-125 - Adverse material fact defined.

36-21A-125. Adverse material fact defined.
For the purposes of this chapter, an adverse material fact is information that negatively affects the value of the property or a party's ability to perform its obligations in a real estate transaction. Adverse material facts include:
(1)Any environmental hazards affecting the property which are required by law to be disclosed;
(2)Any material defects in the property;
(3)Any material defects in the title to the property which are anticipated to survive the closing; and
(4)Any material limitation on the client's ability to perform under the terms of the contract.
Source:
SL 1998, ch 229, §2.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-126 - Brokerage defined.

36-21A-126. Brokerage defined.
For the purposes of this chapter, a brokerage is the business or occupation of a real estate broker. The term includes licensees associated with the broker who have been assigned management duties.
Source:
SL 1998, ch 229, §3.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-127 - Confidential information defined.

36-21A-127. Confidential information defined.
For the purposes of this chapter, confidential information is any information given to the licensee in confidence, or any information obtained by the licensee that the licensee knows a reasonable individual would want to keep confidential, unless disclosure of the information is authorized in writing by the client or disclosure of this information is required by law or the information becomes public knowledge. The term, confidential information, does not include material facts about the physical condition of the property.
Source:
SL 1998, ch 229, §4.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-128 - Informative acts that do not constitute representation.

36-21A-128. Informative acts that do not constitute representation.
For the purposes of this chapter, initial acts that a licensee may perform for a consumer that are informative in nature and do not rise to the level of representation on behalf of a consumer include the following:
(1)Responding to phone inquiries by consumers as to the availability and pricing of real estate services;
(2)Responding to phone inquiries from a consumer concerning the price or location of real property;
(3)Attending an open house and responding to questions about the property from a consumer;
(4)Setting an appointment to view property;
(5)Responding to questions of consumers walking into a licensee's office concerning real estate services offered on particular properties;
(6)Describing a property or the property's condition in response to a consumer's inquiry;
(7)Accompanying an appraiser, inspector, contractor, or similar third party on a visit to a property;
(8)Referring a person to another broker or service provider; or
(9)Providing a one-time showing of one property only to a potential buyer or lessee.
Source:
SL 1998, ch 229, §5.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-129 - Substantive contact defined.

36-21A-129. Substantive contact defined.
For the purposes of this chapter, substantive contact is any performance beyond initial acts described in §36-21A-128 and includes discussion of:
(1)Any specific financial qualifications of the buyer; or
(2)The selling or buying motives or objectives of the seller or buyer, in which the consumer may divulge any confidential personal or financial information, which if disclosed to the other party, could harm that party's bargaining position.
Source:
SL 1998, ch 229, §6.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-130 - Agency agreements--Requirements.

36-21A-130. Agency agreements--Requirements.
Any agency agreement in which a broker represents a seller or lessor shall be in writing and shall contain the proper legal description, the price and terms, the date of authorization, the expiration date, the type of agency relationship established, compensation to be paid, authorization to cooperate with or compensate other brokers, and the signatures of all parties. The licensee who obtains the agreement shall give the person signing a copy of the agreement.
Any agency agreement in which a broker represents a buyer or tenant shall be in writing and shall contain a description of the type and geographical area of property sought by the client, the type of agency relationship established, the compensation to be paid, the date of authorization, the date of expiration, and the signatures of all parties. The licensee who obtains the agreement shall give the person signing a copy of the agreement.
An agency agreement between a broker and a buyer, seller, or lessee may not include a provision for automatic renewal of the agreement at expiration. A property management agreement may include a provision for automatic renewal at expiration if it contains a provision for written cancellation on terms agreeable to all parties to the agreement.
When entering into an agency agreement, a broker shall provide a clear and complete explanation of the broker's representation of the interests of the seller/landlord or buyer/tenant. If the broker represents more than one party in a transaction, the agreement shall state how the representation may be altered. The agreement shall require authorization of all parties to the transaction before the broker initiates any transaction in which the broker would represent all parties.
An agency agreement shall be signed by the responsible broker. However, the responsible broker may authorize a salesperson or broker associate to sign agreements on behalf of the responsible broker.
The commission may promulgate rules pursuant to chapter 1-26 to provide for uniform provisions in any agency agreement under this section.
Source:
SL 1998, ch 229, §7.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-131 - Licensee--Limited relationships.

36-21A-131. Licensee--Limited relationships.
Any licensee performing services authorized by §§36-21A-119 to 36-21A-150, inclusive, is limited to the following relationships:
(1)Single agent:
(a)Seller/landlord agent;
(b)Buyer/tenant agent;
(2)Limited agent;
(3)Subagent; and
(4)Transaction broker.
Source:
SL 1998, ch 229, §8.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-132 - Duties and obligations of licensee representing seller or landlord.

36-21A-132. Duties and obligations of licensee representing seller or landlord.
Any licensee representing a seller or landlord has the following duties and obligations:
(1)To perform the terms of the written agreement made with the client;
(2)To exercise reasonable skill and care for the client;
(3)To promote the interest of the client with the utmost good faith, loyalty, and fidelity, including:
(a)Seeking a price and terms which are acceptable to the client. However, the licensee is not obligated to seek additional offers to purchase the property while the property is subject to a contract for sale or to seek additional offers to lease the property while the property is subject to a lease or letter of intent to lease;
(b)Presenting all written offers to and from the client in a timely manner regardless of whether the property is subject to a contract for sale or lease or a letter of intent to lease;
(c)Disclosing to the client all adverse material facts actually known by the licensee; and
(d)Advising the client to obtain expert advice as to material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee;
(4)To account in a timely manner for all money and property received; and
(5)To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes, or regulations.
Source:
SL 1998, ch 229, §9.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-133 - Disclosure of client information by seller's or landlord's agent.

36-21A-133. Disclosure of client information by seller's or landlord's agent.
Without the express written authority of the seller or landlord, no licensee acting as a seller's or landlord's agent may disclose any confidential information about the client unless disclosure is required by statute or rule or failure to disclose the information would constitute misrepresentation. No cause of action for any person may arise against a seller's agent for making any required or permitted disclosure.
A seller's agent does not terminate the seller's agency relationship by making any required or permitted disclosures.
Source:
SL 1998, ch 229, §10; SL 2013, ch 177, §34.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-134 - Seller's agent has no fiduciary duty to customer.

36-21A-134. Seller's agent has no fiduciary duty to customer.
No licensee acting as a seller's or landlord's agent owes any fiduciary duty or obligation to a customer. A licensee shall provide disclosure of all adverse material facts known by the licensee to any customer.
No seller's or landlord's agent owes any duty to conduct an independent inspection of the property.
Source:
SL 1998, ch 229, §11.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-134.1 - No duty to disclose sex offender information.

36-21A-134.1. No duty to disclose sex offender information.
No licensee representing a seller or landlord has a duty to investigate, volunteer, or disclose information regarding a registered sex offender residing on or near the property.
Source:
SL 2000, ch 196, §1.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-135 - Seller's agent may show other properties.

36-21A-135. Seller's agent may show other properties.
A seller's or landlord's agent may show alternative properties not owned by the client to prospective buyers and may list competing properties for sale or lease without breaching any duty or obligation to the client.
Source:
SL 1998, ch 229, §12.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-136 - Duties and obligations of licensee representing buyer or tenant.

36-21A-136. Duties and obligations of licensee representing buyer or tenant.
Any licensee representing a buyer or tenant has the following duties and obligations:
(1)To perform the terms of any written agreement made with the client;
(2)To exercise reasonable skill and care for the client;
(3)To promote the interest of the client with the utmost good faith, loyalty, and fidelity, including:
(a)Seeking a price and terms which are acceptable to the client. However, the licensee is not obligated to seek other properties while the client is a party to a contract to purchase property or to a lease or letter of intent to lease;
(b)Presenting all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease;
(c)Disclosing to the client adverse material facts known by the licensee; and
(d)Advising the client to obtain expert advice as to material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee;
(4)To account in a timely manner for all money and property received; and
(5)To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations.
Source:
SL 1998, ch 229, §13.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-137 - Buyer's or tenant's agent not to disclose certain information without written authority--Exceptions.

36-21A-137. Buyer's or tenant's agent not to disclose certain information without written authority--Exceptions.
Without the express written authority of the buyer or tenant, no licensee acting as a buyer's or tenant's agent may disclose any confidential information about the client unless disclosure is required by statute or rule or failure to disclose the information would constitute misrepresentation. No cause of action for any person may arise against a licensee acting as a buyer's or tenant's agent for making any required or permitted disclosure.
A buyer's agent does not terminate the buyer's agency relationship by making any required or permitted disclosures.
Source:
SL 1998, ch 229, §14.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-138 - Buyer's agent has no fiduciary duty to customer.

36-21A-138. Buyer's agent has no fiduciary duty to customer.
No licensee acting as a buyer's or tenant's agent owes any fiduciary duty or obligation to a customer. A licensee shall provide disclosure of all adverse material facts known by the licensee to any customer.
No buyer's or tenant's agent owes any duty to conduct an independent investigation of the client's financial condition.
Source:
SL 1998, ch 229, §15.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-138.1 - No duty to volunteer sex offender information--Actual knowledge must be disclosed upon inquiry.

36-21A-138.1. No duty to volunteer sex offender information--Actual knowledge must be disclosed upon inquiry.
No licensee representing a buyer or tenant has a duty to investigate or volunteer information regarding a registered sex offender residing on or near the property. However, upon inquiry by the licensee's client, the licensee representing a buyer or tenant shall disclose to the client any actual knowledge that the licensee may have regarding a registered sex offender residing on or near the property.
Source:
SL 2000, ch 196, §2.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-139 - Buyer's agent may show property to competing clients.

36-21A-139. Buyer's agent may show property to competing clients.
A buyer's or tenant's agent may show properties in which the client is interested to other prospective buyers or tenants without breaching any duty or obligation to the client. This section does not prohibit a buyer's or tenant's agent from showing competing clients the same property and from assisting competing clients in attempting to purchase or lease a particular property.
Source:
SL 1998, ch 229, §16.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-140 - Licensee as limited agent--Written consent of all parties required--Duties and obligations.

36-21A-140. Licensee as limited agent--Written consent of all parties required--Duties and obligations.
A licensee may act as a limited agent only with the informed written consent of all parties to the transaction. A limited agent is an agent for both the seller and the buyer and has the following duties and obligations:
(1)To perform the terms of any written agreement made with the client;
(2)To exercise reasonable skill and care for the client;
(3)To present all written offers to and from the client in a timely manner regardless of whether the client is already a party to a contract to purchase property or is already a party to a contract or a letter of intent to lease;
(4)To disclose to the client adverse material facts known by the licensee;
(5)To advise the client to obtain expert advice as to material matters about which the licensee knows but the specifics of which are beyond the expertise of the licensee;
(6)To account in a timely manner for all money and property received; and
(7)To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances, including fair housing and civil rights statutes or regulations.
Source:
SL 1998, ch 229, §17.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-141 - Certain information not to be disclosed by limited agent without written consent.

36-21A-141. Certain information not to be disclosed by limited agent without written consent.
The following information may not be disclosed by a limited agent without the informed written consent of the client to whom the information pertains:
(1)That a buyer is willing to pay more than the asking price or lease rate offered for the property;
(2)That a seller is willing to accept less than the asking price or lease rate for the property;
(3)What the motivating factors are for any client, buying, selling, or leasing the property; and
(4)That a client will agree to financing terms other than those offered.
Source:
SL 1998, ch 229, §18.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-141.1 - Appointment of licensee to act as appointed agent of client to exclusion of other licensees--Limited agent--Information--Rules.

36-21A-141.1. Appointment of licensee to act as appointed agent of client to exclusion of other licensees--Limited agent--Information--Rules.
A real estate brokerage entering into an agency agreement may, through the responsible broker, appoint to the client those licensees affiliated with the brokerage who will act as appointed agents of that client to the exclusion of all other licensees affiliated with the brokerage. The appointment shall be in writing. A responsible broker is not a limited agent solely because the broker makes an appointment pursuant to this section. However, any licensee who personally represents both the seller and buyer or both the landlord and tenant in a particular transaction is a limited agent and shall comply with the provisions governing limited agents.
When an agent is appointed pursuant to this section, each client, the real estate brokerage, and any appointed licensee is considered to possess only actual knowledge and information. There is no imputation of knowledge or information by operation of law among or between the client, the real estate brokerage, and the appointed agent.
The commission shall promulgate rules pursuant to chapter 1-26 to establish appointed agent procedures regarding disclosure and confidentiality.
Source:
SL 2005, ch 203, §1.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-142 - Limited agent not to disclose certain information about one client to another without written authority--Exceptions.

36-21A-142. Limited agent not to disclose certain information about one client to another without written authority--Exceptions.
Without the express written authority of a client, no limited agent may disclose to one client any confidential information about the other client unless the disclosure is required by statute or rule or failure to disclose the information would constitute misrepresentation. No cause of action for any person may arise against a limited agent for making any required or permitted disclosure.
A limited agent does not terminate the limited agency relationship by making any required or permitted disclosures.
Source:
SL 1998, ch 229, §19.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-143 - Subagency defined.

36-21A-143. Subagency defined.
For the purposes of this chapter, a subagency is any situation in which a responsible broker or licensees associated with the broker act for another broker's client with written permission of the client. The subagent owes the same obligations and responsibilities to the client as does the client's broker.
Source:
SL 1998, ch 229, §20.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-144 - Transaction broker--Duties and obligations.

36-21A-144. Transaction broker--Duties and obligations.
Any licensee acting as a transaction broker has the following duties and obligations:
(1)To perform the terms of any written agreement made with the customer;
(2)To exercise reasonable skill and care for the customer;
(3)To present all offers in a timely manner;
(4)To account in a timely manner for all money and property received;
(5)To comply with any applicable federal, state, and local laws, rules, regulations, and ordinances including fair housing and civil rights statutes or regulations; and
(6)To disclose to the customer all adverse material facts known by the licensee.
No licensee acting as a transaction broker may advise any party to a transaction to the detriment of another party.
Source:
SL 1998, ch 229, §21.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-145 - Transaction broker not responsible for--Independent inspections--Statements by seller--Finances.

36-21A-145. Transaction broker not responsible for--Independent inspections--Statements by seller--Finances.
No licensee acting as a transaction broker has any duty to:
(1)Conduct an independent inspection of the property for the benefit of any party to the transaction;
(2)Independently verify the accuracy or completeness of statements made by the seller, landlord, buyer, tenant, or qualified third-party inspector; or
(3)Conduct an independent investigation of the buyer's or tenant's financial condition.
Source:
SL 1998, ch 229, §22.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-146 - Certain information not to be disclosed by transaction broker without written consent.

36-21A-146. Certain information not to be disclosed by transaction broker without written consent.
The following information may not be disclosed by the transaction broker without the informed written consent of the customer:
(1)That a buyer is willing to pay more than the asking price or lease rate offered for the property;
(2)That a seller is willing to accept less than the asking price or lease rate for the property;
(3)What the motivating factors are for any customer, buying, selling, or leasing the property;
(4)That a customer will agree to financing terms other than those offered; and
(5)Any confidential information about a party to the transaction to the other party unless the disclosure is required by statute or rule or failure to disclose the information would constitute misrepresentation.
Source:
SL 1998, ch 229, §23.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-147 - Office policies--Relationships--Written disclosure.

36-21A-147. Office policies--Relationships--Written disclosure.
Every responsible broker shall develop and maintain a written office policy that specifically sets forth agency and brokerage relationships that the broker may establish. At the first substantive contact with a seller or buyer who has not entered into a written agreement with a broker, the licensee shall:
(1)Disclose in writing to that person the types of agency and brokerage relationships the broker is offering to that person; and
(2)Provide that person with a written copy of a disclosure on a form prescribed by the commission.
The written disclosure shall contain a signature block for the client or customer to acknowledge receipt of the disclosure. The customer's acknowledgment of disclosure does not constitute a contract with the licensee. If the customer fails or refuses to sign the disclosure, the licensee shall note that fact on a copy of the disclosure and retain the copy.
After a seller and buyer have entered into a written agency or brokerage agreement with a broker, no other licensee is required to make the disclosures required by this section.
The commission may prescribe the disclosure form by rules promulgated pursuant to chapter 1-26.
Source:
SL 1998, ch 229, §24.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-148 - Client, licensee not liable for misrepresentation made by the other--Exception.

36-21A-148. Client, licensee not liable for misrepresentation made by the other--Exception.
No client or customer is liable for any misrepresentation made by the licensee arising out of their agency or brokerage agreement unless the client or customer knew of the misrepresentation.
No licensee is liable for a misrepresentation of the licensee's client arising out of the agency agreement unless the licensee knew of the misrepresentation.
In any agency or brokerage relationship, the licensees, each client or customer, and the real estate brokerage are required to possess only actual knowledge and information. There is no imputation of knowledge or information by operation of law among or between the clients or customers, the real estate brokerage, and its licensees.
Source:
SL 1998, ch 229, §25.
2023 South Dakota Codified Laws › Title 36 - Professions and Occupations › Chapter 21A - Real Estate Licensing › Section 36-21A-149 - Duties under common law.

36-21A-149. Duties under common law.
This section supersedes only the duties of the parties under the common law, including fiduciary duties of an agent to a principal, to the extent inconsistent with this chapter. The common law continues to apply to the parties in all other respects. This chapter does not affect the duties of any licensee while engaging in the authorized or unauthorized practice of law as determined by the courts of this state.
Source:
SL 1998, ch 229, §26.