reglab/statecodes huggingface dataset:
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:06 - Appraisal standards › Section 20:14:06:01 - Compliance with uniform standards

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser, performing any appraisal practice assignment,
				  shall complete the assignment in compliance with the
Uniform Standards of
				  Professional Appraisal Practice
, 2020-2021 Edition. The appraiser must
				  also disclose in the appraisal practice assignment any steps taken that were
				  necessary or appropriate to comply with the competency rule of the uniform
				  standards. Edit: Necessary to adopt the new edition of USPAP.
General Authority:
SDCL
					 36-21B-3(3)(16).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(3).
Uniform Standards of Professional Appraisal
					 Practice
, 2020-2021 Edition, Appraisal Standards Board of the Appraisal
					 Foundation. Copies may be obtained from the Appraisal Foundation website at
www.appraisalfoundation.org
or by calling 800-348-2831. Cost: $75 plus shipping and
					 handling.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:06 - Appraisal standards › Section 20:14:06:01.01 - Assignment conditions

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser shall comply with assignment conditions
				  applicable to assignments prepared for specific purposes or property types
				  issued by government agencies, government sponsored enterprises, or other
				  entities that establish public policy. An appraiser shall ascertain whether any
				  such published assignment conditions in addition to the uniform standards apply
				  to the assignment being considered.
General Authority:
SDCL
					 36-21B-3(3).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(3).
Examples:
An appraiser is required to comply
					 with the assignment conditions issued by the federal financial institutions
					 regulatory agencies of the United States known as appraisal guidelines and
					 regulations when performing an assignment for the agencies.
An appraiser is required to comply with the assignment
					 conditions issued by Fannie Mae known as the Fannie Mae Selling Guide when
					 accepting an assignment requiring the use of Fannie Mae forms adopted March of
					 2005.
An appraiser is required to comply with the assignment
					 conditions issued by Employee Relocation Council known as The Worldwide
					 ERC® Relocation Appraisal Guide when accepting an assignment requiring the
					 use of The Worldwide ERC® Summary Appraisal
					 Report.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:06 - Appraisal standards › Section 20:14:06:01.02 - Reporting of appraisal management company registration number

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser who performs an appraisal for an appraisal
				  management company shall assure that the company is properly registered by the
				  secretary pursuant to SDCL chapter 36-21 D and include the company's
				  registration number in the appraisal report.
General Authority:
SDCL
					 36-21B-3(3).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(3).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:07 - Records › Section 20:14:07:01 - Retention of records

Current through Register Vol. 51, page 10, July 15, 2024
A real estate appraiser shall retain originals or true
				  copies of all written contracts engaging the appraiser's services for real
				  estate appraisal work and all written reports, all other data, information,
				  documentation, and supporting data assembled and formulated by the appraiser in
				  preparing the reports for five years. The five-year period for retention of the
				  records is applicable to each engagement of the services of the appraiser and
				  begins on the date of the submittal of the appraisal to the client. However,
				  if, within the five-year period, the appraiser is notified that the appraisal
				  or report is involved in an investigation, litigation, or state or federal
				  review, the five-year period for the retention of the records begins on the
				  date of the final disposition of that investigation, litigation, or state or
				  federal review.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(15).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:07 - Records › Section 20:14:07:02 - Inspection and copying

Current through Register Vol. 51, page 10, July 15, 2024
A real estate appraiser shall make all records required to
				  be maintained under this chapter, including all referenced data, information,
				  and documentation necessary to support the opinions and conclusions of the
				  appraiser, available for inspection and copying upon request of the
				  secretary.
General Authority:
SDCL
					 36-21B-3
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(15).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:08 - Appraiser independence › Section 20:14:08:01 - Staff appraiser independence required

Current through Register Vol. 51, page 10, July 15, 2024
If an appraisal is prepared by a staff appraiser who is an
				  employee of a financial institution, that appraiser must be independent of the
				  lending, investment, and collection functions and not involved, except as an
				  appraiser, in the transaction. The appraiser may have no direct or indirect
				  interest, financial or otherwise, in the property.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(13)(16).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:08 - Appraiser independence › Section 20:14:08:02 - Steps to ensure independent judgment

Current through Register Vol. 51, page 10, July 15, 2024
If the only qualified persons available to perform an
				  appraisal are involved in the lending, investment, or collection functions of
				  the regulated institution, the regulated institution shall take steps to ensure
				  that the appraisers exercise independent judgment and that the appraisal meets
				  required standards. Such steps include prohibiting an individual from
				  performing appraisals in which the appraiser is otherwise involved and
				  prohibiting directors and officers from participating in any vote or approval
				  involving assets on which they performed an appraisal.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(13)(16).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:08 - Appraiser independence › Section 20:14:08:03 - Fee appraiser independence required

Current through Register Vol. 51, page 10, July 15, 2024
If an appraisal is prepared by a fee appraiser, an
				  independent contractor performing services for a fee, that appraiser must be
				  engaged directly by the regulated institution or its agent and may have no
				  direct or indirect interest, financial or otherwise, in the property or
				  transaction. A regulated institution may accept an appraisal that was prepared
				  by an appraiser engaged directly by another institution subject to Title XI of
				  FIRREA if the regulated institution that accepts the appraisal determines the
				  following:
(1) The appraiser has no
				direct or indirect interest, financial or otherwise, in the property or the
				transaction; and
(2) The regulated
				institution determines that the appraisal conforms to the requirements of
				§
									20:14:06:01 and is otherwise
				acceptable.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(16).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:09 - Professional membership and competence › Section 20:14:09:01 - Professional association membership as basis for exclusion prohibited

Current through Register Vol. 51, page 10, July 15, 2024
A state-certified general, state-certified residential,
				  state-licensed, or registered trainee appraiser may not be excluded from
				  consideration for an assignment solely by virtue of membership or lack of
				  membership in any particular appraisal organization. Consideration may include
				  education achieved, experience, sample appraisals, and references from prior
				  clients.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(16).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:09 - Professional membership and competence › Section 20:14:09:02 - Competence

Current through Register Vol. 51, page 10, July 15, 2024
All staff and fee appraisers performing real estate
				  appraisals must be state-certified general, state-certified residential,
				  state-licensed, or registered trainee as applicable. However, a state-certified
				  general, state-certified residential, state-licensed, or registered trainee
				  appraiser may not be considered competent solely by virtue of being certified,
				  licensed, or registered. Any determination of competence must be based on the
				  individual's experience and educational background as they relate to the
				  particular appraisal assignment for which the appraiser is being
				  considered.
General Authority:
SDCL
					 36-21B-3(16).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(16).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:01 - Application fees

Current through Register Vol. 51, page 10, July 15, 2024
Application fees are as follows:
(1) State-certified general appraiser:
				$400;
(2) State-certified
				residential appraiser: $375;
(3)
				State-licensed appraiser: $350;
(4)
				Registered trainee appraiser: $210;
(5) State-certified general appraiser
				reciprocity: $400;
(6)
				State-certified residential appraiser reciprocity: $375;
(7) State-licensed appraiser reciprocity:
				$350;
(8) Temporary practice:
				$200;
(9) Supervisory appraiser:
				$150.
General Authority:
SDCL
					 36-21B-4.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(4),
					 36-21B-4(1)(6)(9).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:02 - Renewal fees

Current through Register Vol. 51, page 10, July 15, 2024
Credential renewal fees are as follows:
(1) State-certified general appraiser:
				$350;
(2) State-certified
				residential appraiser: $335;
(3)
				State-licensed appraiser: $325;
(4)
				Registered trainee appraiser: $175;
(5) Supervisory appraiser: $100.
General Authority:
SDCL
					 36-21B-4.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(9),
					 36-21B-4(2).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:04 - Late credential renewal fee

Current through Register Vol. 51, page 10, July 15, 2024
The late renewal fee for submitting the appraiser credential
				  renewal application after the renewal deadline as prescribed in 20:14:03:03 is
				  $25 for each month or fraction of a month that has passed since the first day
				  of October, not to exceed $200.
General Authority:
SDCL
					 36-21B-4.
Law Implemented:
SDCL
					 36-21B-3(9),
					 36-21B-4(4).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:04.01 - Uniform standards update course late completion renewal fee

Current through Register Vol. 51, page 10, July 15, 2024
The late renewal fee for completing the seven-hour update
				  course that covers the uniform standards after June 30 of each even-numbered
				  year as prescribed in §
									20:14:13:01 is $100. not to exceed
				  $200.
General Authority:
SDCL
					 36-21B-4
Law Implemented:
SDCL
					 36-21B-3(9),
					 36-21B-4(4)
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:05 - Upgrade fee

Current through Register Vol. 51, page 10, July 15, 2024
The fee to upgrade any credential is $200.
General Authority:
SDCL
					 36-21B-4.
Law Implemented:
SDCL
					 36-21B-3(7),
					 36-21B-4(5).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:05.01 - Upgrade fee - midway upgrade

Current through Register Vol. 51, page 10, July 15, 2024
A registered trainee appraiser shall pay the following
				  applicable midway upgrade fee for each appraisal submitted pursuant to §
				  20:l4:05:05.05:
(1) $200 - Residential
				(Single Family Unit);
(2) $250 -
				Residential - Small Income Producing (2-4 units);
(3) $350 - Non-Residential (Agricultural);
				or
(4) $400 - Non-Residential
				(Commercial/Industrial/Multi-Family [more than 4 units]).
General Authority:
SDCL
					 36-21B-4(5).
Law Implemented:
SDCL 36-21B-l,
					 36-21B-3(1)(7)(17)(18), 36-21B-4(5).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:06 - Fee for approval of course

Current through Register Vol. 51, page 10, July 15, 2024
The application fee for approval of a course offering is
				  $50.
General Authority:
SDCL
					 36-21B-4.
Law Implemented:
SDCL
					 36-21B-3(6),
					 36-21B-4(8).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:10 - Fee schedule › Section 20:14:10:07 - Refund of fees

Current through Register Vol. 51, page 10, July 15, 2024
Fees are nonrefundable.
General Authority:
SDCL
					 36-21B-4.
Law Implemented:
SDCL
					 36-21B-4.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:11 - Complaints, investigations, and discipline › Section 20:14:11:01 - Complaints and investigations

Current through Register Vol. 51, page 10, July 15, 2024
Upon receipt of an allegation of non-compliance against any
				  credential holder or applicant for a credential, as defined by §
				  20:14:11:01.01, or upon the secretary's own motion, the secretary shall
				  initiate an investigation of the allegation. If the investigation provides
				  evidence of non-compliance, the secretary may enter a formal complaint stating
				  the charge against any credential holder or applicant for a
				  credential.
General Authority:
SDCL
					 36-21B-3(12)(13)(17).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(12)(13)(17).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:11 - Complaints, investigations, and discipline › Section 20:14:11:01.01 - Allegation of non-compliance

Current through Register Vol. 51, page 10, July 15, 2024
An allegation of non-compliance must be in writing and meet
				  the following criteria:
(1) The
				allegation of error or violation of any provision of this article is considered
				credible and based upon factual information which is independently verifiable;
				and
(2) The allegation is
				accompanied by a copy of the appraisal report or other credible
				documentation
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(12)(13)(17).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:11 - Complaints, investigations, and discipline › Section 20:14:11:02 - Disciplinary actions

Current through Register Vol. 51, page 10, July 15, 2024
The secretary may: deny, suspend, or revoke a credential;
				  censure or reprimand a credential holder; place a credential holder on
				  probation; or limit a credential holders scope of practice in accordance with
				  SDCL chapter 1-26.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(12).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:11 - Complaints, investigations, and discipline › Section 20:14:11:03 - Grounds for disciplinary action

Current through Register Vol. 51, page 10, July 15, 2024
The following acts and omissions are grounds for
				  disciplinary action:
(1) Failing to
				meet the minimum qualifications for certification, licensure, or registration
				established by or pursuant to this article;
(2) Procuring or attempting to procure a
				credential, when filing an initial or renewal application with the department
				for certification, licensure, or registration under this article, by:
(a) making a false statement,
(b) submitting false information,
(c) making a material misrepresentation;
				or
(d) through fraudulent
				measures;
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:12 - Nonresident certification, licensure, and temporary practice › Section 20:14:12:01 - Nonresident consent to service of process

Current through Register Vol. 51, page 10, July 15, 2024
Each applicant under this article who is not a resident of
				  this state shall submit with the application an irrevocable consent that
				  service of process upon the applicant may be made by delivery of the process to
				  the secretary of the Department of Labor and Regulation. This method of process
				  may be used in an action against the applicant in a court of this state arising
				  out of the applicant's activities as a real estate appraiser in this state if
				  the plaintiff cannot, in the exercise of due diligence, effect personal service
				  upon the applicant.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:12 - Nonresident certification, licensure, and temporary practice › Section 20:14:12:02 - Reciprocity

Current through Register Vol. 51, page 10, July 15, 2024
If, in the determination of the secretary, another state,
				  territory, or the District of Columbia has substantially equivalent
				  certification and licensure requirements, an applicant who is certified or
				  licensed there may be issued a state-certified general, state-certified
				  residential, or state-licensed appraiser credential under this article. To
				  qualify, the applicant shall:
(1)
				Submit an application on a form provided by the secretary;
(2) Certify that the applicant is licensed or
				certified to appraise real estate in the applicant's home state or any other
				jurisdiction;
(3) Certify that
				disciplinary proceedings are not pending against the applicant in the
				applicant's home state or any other jurisdiction;
(4) Provide a signed affidavit; and
(5) Pay the application fee prescribed in
				§
									20:14:10:01.
General Authority:
SDCL 36-21B-3.
Law Implemented:
SDCL 36-21B-1,
					 36-21B-3(10).
Note:
The secretary shall collect the registry
					 fee pursuant to 12 U.S.C.
					 §
												3338(a) with the
					 application for certification or
					 licensure.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:12 - Nonresident certification, licensure, and temporary practice › Section 20:14:12:03 - Reciprocity - Term of credential

Current through Register Vol. 51, page 10, July 15, 2024
The secretary shall issue a certificate or license to an
				  applicant who qualifies in accordance with this article. Any certificate or
				  license issued under this article expires on September 30 each year, unless
				  revoked or suspended.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:12 - Nonresident certification, licensure, and temporary practice › Section 20:14:12:04 - Temporary practice

Current through Register Vol. 51, page 10, July 15, 2024
A nonresident of this state who has submitted an irrevocable
				  consent to service of process under §
									20:14:12:01 may obtain a temporary
				  permit to perform a contract relating to the appraisal of real estate in this
				  state. To qualify, an applicant must do the following:
(1) Submit an application on a form provided
				by the secretary;
(2) Certify that
				the applicant is licensed or certified to appraise real estate in the
				applicant's home state or any other jurisdiction;
(3) Submit a copy of the contract for
				appraisal services that requires the applicant to appraise real estate in this
				state and certify that the contract is in effect;
(4) Certify that disciplinary proceedings are
				not pending against the applicant in the applicant's home state or any other
				jurisdiction; and
(5) Pay the
				application fee prescribed in §
									20:14:10:01.
General Authority:
SDCL
					 36-21B-3(11).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(11).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:12 - Nonresident certification, licensure, and temporary practice › Section 20:14:12:05 - Temporary permit limited - Expiration

Current through Register Vol. 51, page 10, July 15, 2024
A temporary permit issued under this chapter is limited to
				  the performance of the appraisal work required by the contract submitted with
				  the application. Each temporary permit expires on the completion of the
				  appraisal work required by the contract for appraisal service or six months
				  from the date of issuance, whichever occurs first, unless an extension is
				  granted by the secretary.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:01 - Continuing education requirements

Current through Register Vol. 51, page 10, July 15, 2024
In each odd-numbered year an applicant for renewal of a
				  credential shall document completion of the equivalent of 28 class hours of
				  instruction in approved courses or seminars during the preceding reporting
				  period unless the continuing education is not required pursuant to §
				  20:14:13:01.01 or 20:14:03:05. Seven of the 28 class hours of instruction must
				  be completed in the seven-hour update course that covers the uniform standards
				  as adopted in §
									20:14:06:01 or its equivalent as
				  determined by the secretary or an alternative method as specified for
				  continuing education in §
									20:14:13:10.01. The applicant
				  shall successfully complete the most current edition seven-hour uniform
				  standards course on or before June 30 of each even-numbered year. An applicant
				  who has not completed the seven-hour update course on or before June 30 of each
				  even-numbered year the applicant shall be assessed a late completion renewal
				  fee as prescribed in §
									20:14:10:04.01. An applicant may
				  not receive credit for completion of the same continuing education offering
				  within an appraiser's continuing education reporting period.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(3)(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:01.01 - Continuing education not required

Current through Register Vol. 51, page 10, July 15, 2024
The continuing education requirement as specified in §
									20:14:13:01 is not required if any
				  of the following conditions are met:
(1) A credential was issued in the previous
				185 days before September 30 of the current odd-numbered year. However, this
				subdivision applies to first-time applicants only and not to applicants that
				have been issued an upgrade of a credential; or
(2) An appraiser is certified or licensed by
				reciprocity. However, the appraiser must demonstrate possession of a current
				appraiser credential and be in good standing in the appraiser's home state or
				any other jurisdiction. Continuing education is required pursuant to §
									20:14:13:01 if the appraiser who
				is certified or licensed by reciprocity moves to South Dakota.
General Authority:
SDCL
					 36-21B-3(6)(9).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:01.02 - Continuing education - Partial requirement

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser is only required to complete fourteen hours of
				  instruction in approved courses or seminars if the appraiser's credential is
				  issued on or after October 1 of the previous even-numbered year and prior to
				  185 days before September 30 of the current odd-numbered year. However, this
				  subdivision applies to first-time applicants only and not to applicants who
				  have been issued an upgrade of a credential.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:02 - Acceptable continuing education course topics

Current through Register Vol. 51, page 10, July 15, 2024
The department shall grant credit to an applicant for
				  renewal for courses that cover real estate topics related to appraisal and that
				  maintain or increase an appraiser's skill, knowledge, and competency in real
				  property appraising, Acceptable real estate topics are those listed in this
				  section or the equivalent as determined by the secretary:
(1) Ad valorem taxation;
(2) Arbitration, dispute
				resolution;
(3) Courses related to
				practice of real estate appraisal or consulting;
(4) Development cost estimating;
(5) Ethics, standards of professional
				practice, and uniform standards;
(6) Land use planning and zoning;
(7) Real estate litigation, damages, and
				condemnation;
(8) Management,
				leasing, and timesharing;
(9)
				Property development and partial interest;
(10) Real estate law, easements, and legal
				interest;
(11) Real estate
				financing and investment;
(12) Real
				estate appraisal-related computer applications;
(13) Real estate securities and
				syndication;
(14) Developing
				opinions of real property value in appraisals that also include personal
				property and/or business value;
(15) Seller concessions and impact on value;
(16) Energy efficient items and
				green building appraisals; and
(17)
				Valuation bias, fair housing, or equal opportunity housing.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6),
					 36-21B-1.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:02.01 - Acceptable continuing education credit for field trips

Current through Register Vol. 51, page 10, July 15, 2024
Real estate appraisal related field trips may be acceptable
				  for credit toward the continuing education requirements. Transit time to or
				  from the field trip is not acceptable unless instruction occurs during
				  transit.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6)(9).
Example:
A real estate related field trip may
					 be an organized tour, which includes instruction to the students, of a dairy
					 operation; a turkey, swine, or cattle handling facility; or a chemical and seed
					 business.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:03 - Minimum length of continuing education course

Current through Register Vol. 51, page 10, July 15, 2024
Continuing education credit may only be granted if the length
				  of the course is at least two class hours.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:03.01 - Requirement for qualifying education credit

Current through Register Vol. 51, page 10, July 15, 2024
An education credit may be granted if the length of the
				  course is at least 15 class hours and the individual successfully completes an
				  approved closed-book examination pertinent to that course. The prescribed
				  number of class hours may include time for examinations. Any course taken to
				  satisfy the qualifying education requirements may not be
				  repetitive.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:03.02 - Maximum length of classroom hours of instruction

Current through Register Vol. 51, page 10, July 15, 2024
No course may include more than eight classroom hours of
				  instruction in a given day. Each course shall allow for adequate breaks during
				  the course day. This rule does not preclude the giving of class assignments to
				  be completed by the student after class.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:04 - Additional activities eligible for continuing education credit

Current through Register Vol. 51, page 10, July 15, 2024
In addition to continuing education credit granted for
				  continuing education courses covering appraisal topics listed in the respective
				  appraiser criteria, up to one-half of an appraiser's continuing education
				  credit may also be granted for participation, other than as a student, in
				  appraisal educational processes and programs. Examples of activities for which
				  credit may be granted are teaching, program development, authorship of
				  textbooks, or similar activities which are determined by the secretary to be
				  equivalent to obtaining continuing education. Credit for instructing any given
				  course or seminar may only be awarded once during a continuing education
				  cycle.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:05 - Sources of qualifying education credit

Current through Register Vol. 51, page 10, July 15, 2024
Credit for education may be obtained from the
				  following:
(1) Colleges or
				universities;
(2) Community or
				junior college;
(3) Real estate
				appraisal or real estate-related organizations;
(4) State or federal agencies or
				commissions;
(5) Proprietary
				schools;
(6) Other providers
				approved by the secretary; and
(7)
				The Appraisal Foundation or its boards.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:05.01 - Acceptable courses without state review

Current through Register Vol. 51, page 10, July 15, 2024
Education courses that have received approval by the
				  Appraiser Qualifications Board of the Appraisal Foundation through the
				  Appraiser Qualifications Course Approval Program or by another state appraiser
				  regulatory agency may be accepted by the secretary without additional state
				  review.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(6)
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:05.02 - Acceptable distance education courses

Current through Register Vol. 51, page 10, July 15, 2024
An asynchronous distance education course is acceptable for
				  qualifying or continuing education if:
(1) The course provides interaction.
				Interaction is a reciprocal environment where the student has verbal or written
				communication with the instructor;
(2) Content approval is obtained from the
				Appraiser Qualifications Board, a state licensing jurisdiction, or an
				accredited college, community college, or university that offers distance
				education programs and is approved or accredited by the Commission on Colleges,
				a regional or national accreditation association, or by an accrediting agency
				that is recognized by the U.S. Secretary of Education. Nonacademic credit
				college courses provided by a college must be approved by the Appraiser
				Qualifications Board or the state licensing jurisdiction; and
(3) Course delivery mechanism approval is
				obtained from one of the following sources:
(a) The Appraiser Qualifications
				Board;
(b) Appraiser Qualifications
				Board-approved organizations providing approval of course design and delivery,
				such as The Appraisal Foundation or other independent approved
				entity;
(c) A college that
				qualifies for content approval in subdivision (2) that awards academic credit
				for the distance education course; or
(d) A qualifying college for content approval
				with a distance education delivery program that approves the course design and
				delivery that incorporate interactivity.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:05.03 - Asynchronous education - Continuing education

Current through Register Vol. 51, page 10, July 15, 2024
Asynchronous distance education courses intended for use as
				  continuing education must include
(1)
				A written examination proctored by an official approved by the college or
				university, or by the sponsoring organization. Remote proctoring, including
				bio-metric proctoring procedures, is acceptable; or
(2) Successful completion of prescribed
				course mechanisms required to demonstrate knowledge of the subject matter.
For purposes of this section, the term, bio-metric
				  proctoring means continually verifying the identity of a student through facial
				  recognition, keystroke cadence consistency, or the observation of activity in a
				  testing location.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6),
					 36-21B-1.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:05.04 - Distance education - Qualifying education

Current through Register Vol. 51, page 10, July 15, 2024
Distance education courses intended for use as qualifying
				  education must include a written, closed-book final examination. The
				  examination must be proctored in-person or remotely by an official approved by
				  the college or university, or by the sponsoring organization. Bio-metric
				  proctoring, as defined in §
									20:14:13:05.03, is an acceptable
				  form of proctoring for purposes of this section.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:06 - Term of approval

Current through Register Vol. 51, page 10, July 15, 2024
A course approved by the secretary is valid for three years
				  unless the secretary determines the course has changed and does not meet the
				  criteria in §
									20:14:13:07.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:07 - Application for course approval

Current through Register Vol. 51, page 10, July 15, 2024
To obtain education course approval, the provider must apply
				  in writing on a form provided by the secretary and submit the course to the
				  department for approval by the secretary in accordance with this chapter. The
				  provider must pay the application fee as prescribed in §
									20:14:10:06 and provide
				  information to the department regarding the course offering, including the
				  following:
(1) Course outline or
				syllabus;
(2) All texts, workbooks,
				hand-outs, or other course material;
(3) Instructor qualifications;
(4) Course examinations;
(5) Length of the course offering;
				and
(6) Description of procedures
				for measuring and validating attendance.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:08 - Approval of course changes

Current through Register Vol. 51, page 10, July 15, 2024
The course provider must immediately notify the department in
				  writing of any changes to an approved course. The secretary shall determine in
				  accordance with this chapter if the changes are acceptable.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:10 - Uniform standards training for instructors

Current through Register Vol. 51, page 10, July 15, 2024
An instructor teaching an approved uniform standards course
				  must be in good standing and a state-certified residential appraiser or a
				  state-certified general appraiser certified by the Appraiser Qualifications
				  Board as a USPAP Instructor.
General Authority:
SDCL
					 36-21B-3(3)(6).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:10.01 - Courses on the appraisal standards and ethics

Current through Register Vol. 51, page 10, July 15, 2024
The 15-hour course that covers the uniform standards as
				  adopted in §
									20:14:06:01 or its Appraiser
				  Qualifications Board approved equivalent is an acceptable qualifying course
				  that may be offered by educational providers and approved by the secretary. The
				  7-hour update course that covers the uniform standards as adopted in §
									20:14:06:01 or its Appraiser
				  Qualifications Board approved equivalent is an acceptable continuing education
				  course that may be offered by educational providers and approved by the
				  secretary.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-3(3)(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:11 - Certificate of attendance issued by course provider

Current through Register Vol. 51, page 10, July 15, 2024
The course provider shall issue a certificate of attendance
				  to each student that attends each class hour approved for the course offering
				  and successfully completes all of the course requirements.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:12 - Disapproval or denial of a course

Current through Register Vol. 51, page 10, July 15, 2024
The secretary may disapprove an approved course or deny an
				  application for course approval in accordance with SDCL chapter 1-26 if the
				  course content or the course provider fails to meet the requirements of this
				  chapter.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:13 - Training course for supervisory appraisers and registered trainee appraisers

Current through Register Vol. 51, page 10, July 15, 2024
The department shall develop the training course and provide
				  it to providers of appraisal education as listed in §
									20:14:13:05 desiring to offer the
				  course. The provider shall ensure that each training course instructor has met
				  the following minimum requirements:
(1) Holds a South Dakota state-certified
				general or state-certified residential credential;
(2) Is in good standing in this state or any
				other jurisdiction in which the appraiser holds a certified appraiser
				credential and has not been subject to any disciplinary action within any
				jurisdiction that affects legal eligibility to engage in appraisal practice for
				three years after the successful completion or termination of any sanctions
				imposed;
(3) Audited the training
				course a minimum of one time;
(4)
				Possesses institutional knowledge and understanding of Title XI of the
				Financial Institutions Reform, Recovery and Enforcement Act of 1989, as amended
				by the Dodd-Frank Wall Street Reform Act of 2010;
(5) Possesses knowledge and understanding of
				the statutes and administrative rules in this state regarding
				appraisers;
(6) Co-instructed the
				training course with an instructor a minimum of two times or until the
				instructor determines that the individual demonstrates the ability to instruct
				the course independently; and
(7)
				Holds the department's supervisory appraiser endorsement and has supervised a
				minimum of one registered trainee appraiser to successful upgrade or is
				currently supervising a registered trainee appraiser.
General Authority:
SDCL
					 36-21B-3.
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(6).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:13 - Qualifying and continuing education › Section 20:14:13:14 - Course evaluation

Current through Register Vol. 51, page 10, July 15, 2024
A course provider shall provide each student with a course
				  evaluation form upon completion of the course and shall tally the results of
				  the evaluation forms onto one form. The course provider shall send the
				  completed course evaluation forms and the tally to the secretary within 15 days
				  of course completion.
General Authority:
SDCL
					 36-21B-3(6).
Law Implemented:
SDCL
					 36-21B-1,
					 36-21B-3(6)
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:14 - Evaluation Exmptions and Standards › Section 20:14:14:01 - Transactions that require an evaluation

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser may perform an evaluation assignment for a
				  federally insured depository institution if required in connection with
				  federally related transactions as specified in §
									20:14:04:05.
General Authority:
SDCL
					 36-21B-3(20).
Law Implemented:
SDCL
					 36-21B-3(20).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:14 - Evaluation Exmptions and Standards › Section 20:14:14:02 - Compliance with guidelines

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser performing an evaluation must comply with the
				  Interagency Appraisal and Evaluation Guidelines, adopted December 2,
				  2010.
General Authority:
SDCL
					 36-21B-3(20).
Law Implemented:
SDCL
					 36-21B-3(20).
Interagency Appraisal and Evaluation
					 Guidelines,
adopted December 2, 2010. Copies may be obtained from
https://www.fdic.gov/news/financial-institution-letters/2010/fil10082a.pdf
.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:14 - Evaluation Exmptions and Standards › Section 20:14:14:03 - Evaluation content

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser must include in an evaluation, at a minimum the
				  following:
(1) Identification of the
				location of the subject property;
(2) Description of the subject property and
				its current and projected use;
(3)
				Estimate of the propertys market value in its actual physical condition, use
				and zoning designation as of the effective date of the evaluation (that is, the
				date that the analysis was completed), with any limiting conditions;
(4) Description of the method(s) the
				institution used to confirm the propertys actual physical condition and the
				extent to which an inspection was performed;
(5) Description of the analysis that was
				performed and the supporting information that was used in valuing the
				property;
(6) Description of the
				supplemental information that was considered when using an analytical methods
				or technological tool;
(7)
				Indication of all sources of information used in the analysis, as applicable,
				to value the property, including:
(a)
				External data sources (such as market sales databases and public tax and land
				records);
(b) Property-specific
				data (such as previous sales data for the subject property, tax assessment
				data, and comparable sales information);
(c) Evidence of a property
				inspection;
(d) Photos of the
				property;
(e) Description of the
				neighborhood; and
(f) Local market
				conditions.
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:14 - Evaluation Exmptions and Standards › Section 20:14:14:04 - Competency requirement when performing an evaluation

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser performing an evaluation assignment shall comply
				  with the competency rule of the uniform standards as specified in §
									20:14:06:01.
General Authority:
SDCL
					 36-21B-3(20).
Law Implemented:
SDCL
					 36-21B-3(3)(20).
South Dakota Administrative Rules › Title 20 - PUBLIC SAFETY › Article 20:14 - APPRAISERS › Chapter 20:14:14 - Evaluation Exmptions and Standards › Section 20:14:14:05 - Ethical requirement when performing an evaluation

Current through Register Vol. 51, page 10, July 15, 2024
An appraiser performing an evaluation assignment shall
				  comply with the ethics rule of the uniform standards as specified in §
									20:14:06:01.
General Authority:
SDCL
					 36-21B-3(20).
Law Implemented:
SDCL
					 36-21B-3(3)(20).