An Act to provide rule-making authority for establishing an appraiser experience training and setting fees.
Be it enacted by the Legislature of the State of South Dakota:
Section 1. That § 36-21B-3 be AMENDED.
36-21B-3. Promulgation of rules.
The secretary of the Department of Labor and Regulation may promulgate rules pursuant to chapter 1-26 relating to appraisers and appraisals in the following areas:
(1) Certification, licensing, and registration of appraisers;
(2) Definition of terms;
(3) Uniform standards of professional appraisal practice;
(5) Examinations and examination procedures;
(6) Pre-certification education criteria and continuing education;
(7) Qualifications for and upgrading of a certificate;
(8) Transactions requiring certified, licensed, or registered appraisers;
(9) Renewal and late renewal procedures;
(10) Certificate by reciprocity;
(11) Temporary practice and permits;
(12) Complaints and grounds for disciplinary actions including denial, revocation, suspension, censure, and reprimand;
(13) Conflict of interest and investigation;
(14) Advertising by certified, licensed, or registered appraisers;
(15) Retention and inspection of records, and rosters of appraisers;
(16) Appraiser membership, competency, and independence;
(17) Review of appraisals and contracting for investigations;
(18) Inspection, examination, and photocopy of appraisal records for audit purposes;
(19) Inactive status;
(20) Exemptions and standards allowing appraisers to perform an evaluation for a federally insured depository institution;
(21) An appraiser experience training program under which licensees may obtain requisite experience hours; and
Signed February 22, 2021
Catchlines are not law. (§ 2-16-13.1) Underscores indicate new language.
indicate deleted language.