Statute of limitations for real estate appraisers.
ENTITLED, An Act to
establish a statute of limitations for real estate appraisers and their agents
and employees for alleged malpractice, error, mistake, or omission.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended by adding thereto a NEW SECTION to read as
No action may be brought against a licensed real estate appraiser, or any agent or employee
thereof, for malpractice, error, mistake, or omission, whether based upon contract or tort, unless
it is commenced within three years of the occurrence of the alleged malpractice, error, mistake, or
omission. The term, real estate appraiser, includes any real estate appraiser who is certified,
licensed, or registered pursuant to chapter 36-21B. This section is prospective in application.
Signed March 5, 2007