Chapter 180

(House Bill 1015)

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;

(4) Application for and issuance of certificates;

(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; and

(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

(22) Fees for participation in the appraiser experience training program.

Signed February 22, 2021

Catchlines are not law. (§ 2-16-13.1) Underscores indicate new language.

Overstrikes indicate deleted language.