An Act to codify an advisory committee board for the appraisal appraiser certification program.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That chapter 36-21B be amended with a NEW SECTION:

The secretary of the Department of Labor and Regulation shall establish an advisory committee board for purposes of soliciting input from appraisers, financial institutions, and other experts in the areas of appraisal appraiser certification program administration, in order to sustain a program that is consistent with applicable federal and state requirements.

The advisory committee board shall consist of ten members:

(1) One representative of the Division of Banking;

(2) One representative of the South Dakota Real Estate Commission;

(3) One licensed real estate broker in this state;

(4) One banking financial institution representative;

(5) One mortgage broker; and

(6) Five licensed or certified appraisers in this state.

Section 2. That chapter 36-21B be amended with a NEW SECTION:

Each committee board member shall serve a term of three years. No committee board member may be appointed to more than three consecutive, full terms. If a vacancy occurs, the board shall appoint a person to fill the unexpired term. The appointment of a person to an unexpired term is not considered a full term.

The committee board shall meet quarterly at such time and place within this state as shall be designated by the secretary of the Department of Labor and Regulation. The committee board shall meet the requirements of chapter 1-25 regarding open meetings.

Each committee board member shall receive travel and subsistence expense in accordance with rules established by the State Board of Finance. In addition, per diem at rates established by the board must be paid each member for each day of actual service for traveling to, attending, and returning from meetings of the committee board. Travel, subsistence, and per diem must be paid on vouchers duly verified and approved according to the rules determined by the board.